US Sciele Pharma to buy Victory Pharma for USD150m

Posted on: Mon, 18 May 2009 10:34:00 EDT


Symbols: SCRX
May 18, 2009 (M2 EQUITYBITES via COMTEX) --
SCRX | Quote | Chart | News | PowerRating -- US company Sciele Pharma said on 18 May 2009 it has agreed to buy local
privately-held pharmaceutical firm Victory Pharma for USD150m (EUR111m).

The deal is scheduled for closing in the second quarter of the year.

The transaction is in line with Sciele's strategic plan to further
diversify its product portfolio.

Sciele Pharma, part of Japanese pharmaceutical group Shionogi & Co Ltd,
specialises in selling, marketing and development of branded
prescription products for cardiovascular complaints, diabetes, women's
health and pediatrics.

Sector: Pharmaceuticals

Type: Corporate acquisition

Financing: Cash

Target: Victory Pharma Inc

Buyer: Sciele Pharma Inc

Status: Agreed

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