Norgine in $342 million deal to buy Merus
Independent drugmaker Norgine is to acquire specialty pharma company Merus Labs International (Nasdaq: MSLI) in a $342 million deal, news of which sent the latter company’s share price spiraling by 54% to $1.19 in Thursday morning’s trading.
Norgine, a leading European specialist pharmaceutical company focusing on gastroenterology, hepatology, cancer and supportive care, had total sales of 295 million euros ($321 million) in 2016, almost three times Merus’ gross basic revenue for the year, which was $111 million.
"Our acquisition of Merus will strengthen our position as the ‘go-to’ European specialist pharma"
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