On Air Now

Listen

Listen Live Now » 106.1 FM Lansing, Michigan

Weather

Current Conditions(Holt,MI 48842)

More Weather »
75° Feels Like: 75°
Wind: SW 10 mph Past 24 hrs - Precip: 0”
Current Radar for Zip

Tonight

Clear 60°

Tomorrow

Mostly Sunny 82°

Wed Night

Clear 63°

Alerts

Actelion buys U.S.-based firm with cancer drug in development

A general view shows Swiss biotech group Actelion Headquarters in Allschwil near Basel, April 23, 2011. REUTERS/Christian Hartmann
A general view shows Swiss biotech group Actelion Headquarters in Allschwil near Basel, April 23, 2011. REUTERS/Christian Hartmann

ZURICH (Reuters) - Actelion said it will acquire Ceptaris, a privately held U.S.-based specialty pharmaceutical company developing a topical drug, Valchlor, to treat a form of cancer.

Allschwil-based Actelion said it already paid Ceptaris $25 million and will pay another $225 million when the deal closes. The deal is contingent on Valchlor clinching approval from the U.S. health regulator.

"We expect the transaction to become cash-accretive before the end of 2014," Actelion executive Nicholas Franco said in a statement on Wednesday.

(Reporting By Katharina Bart)

Comments