Eagle Pharma signals entry into biosimilars market with acquisition

12 November 2016

US drugmaker Eagle Pharmaceuticals (Nasdaq: EGRX) has signed a definitive agreement to acquire an early-stage biotechnology firm with proprietary viscosity-reducing technology and formulation know-how.

The acquisition of USA-based Arsia Therapeutics will mark Eagle’s entry into biologics, the fastest growing sector of the pharmaceuticals market, and will allow the company to apply its proven market strategy to offer “biobetter” formulations, and to aid in the rapid development of novel biologics.

The closing of the acquisition is expected to occur within the next week, subject to the satisfaction of various customary closing conditions. Eagle’s shares closed down 5.6% at $79.50 on Friday following the announcement.

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