Allergan to buy MAP Pharma for about $958 mln
By Samuel Kwon
Jan 22, 2013 08:54 PM EST
Regions
Britain has become the first country to approve Allergan Inc's anti-wrinkle injection Botox as a treatment for migraine, opening up a new market for the product. (Photo : Reuters)
U.S. specialty drugmaker Allergan Inc said late on Tuesday it will buy MAP Pharmaceuticals Inc for about $958 million in cash.
As per the deal, Allergan will acquire 100 percent of the shares of MAP Pharmaceuticals for a price of $25 per share, a 60 percent premium over MAP's closing stock price on the Nasdaq of $15.58 on Tuesday.
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