United Therapeutics buying Cooke Pharma
United Therapeutics' subsidiary, Unither Pharmaceuticals, is acquiringCooke Pharma, which makes HeartBar, "the first and only medical food for angina and other cardiovascular conditions," the firm claims. Medical foods are regulated by the US Food and Drug Administration. Cooke sold over four million HeartBars as an over-the-counter product during 1999-2000, and Unither's chief executive, Barry Kanarek, said the deal complements its strategy of developing therapies to combat cardiovascular disease.
United fending off takeover bids
Meantime, United has adopted a shareholder rights plan designed to discourage hostile takeover attempts. Martine Rothblatt, the firm's chief executive, said the board is concerned that "the future benefits of current programs and initiatives could be denied to stockholders by an opportunistic, undervalued acquisition of the company."
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