AstraZeneca acquires Omthera Pharmaceuticals

July 19
10:24 AM 2013

AstraZeneca completed its acquisition of Omthera Pharmaceuticals last July 18, 2013. Omthera announced last July 16 that its shareholders approved the acquisition.

All outstanding common shares of Omthera were acquired by AstraZeneca following the acquisition. The shares were priced at US$12.70 per share. AstraZeneca paid in cash plus a Contingent Value Right (CVR) for every share of stock owned by a shareholder "if specified milestones related to Epanova are achieved, or if a milestone related to global net sales is achieved." Each CVR cost up to about US$4.70.

Through the acquisition, Epanova(TM) will be added to AstraZeneca's pipeline of late-stage cardiovascular disease. Epanova(TM) was a "novel omega-3 free fatty acid composition." Omthera submitted last July 9 a New Drug Application to the US Food and Drug Administration. The application sought the approval of the regulatory body for treating patients with very high triglycerides (>=500 mg/dL).

Omthera Pharmaceuticals was a Princeton, New Jersey-based specialty pharmaceutical company. The company focused on "the development and commercialisation of new therapies for abnormal levels of lipids in the blood, referred to as dyslipidemia."

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