LAB International intents to acquire PharmaForm
LAB International Inc. announced it has signed a non-binding letter of intent ("LOI") to acquire all of the outstanding membership interests of PharmaForm L.L.C.. The closing of this transaction is subject to the completion of satisfactory due diligence, the negotiation of a definitive purchase and sale agreement, regulatory and Board approval. The closing of the transaction is anticipated to take place on or before December 1, 2006.
Consideration for the acquisition is U.S $7.5 million payable in cash and $4.375 million in LAB shares at closing. PharmaForm shareholders are eligible for additional payments in LAB shares upon completion of certain milestones related to pipeline products in PharmaForm's drug development programs reaching specific clinical trial stages.
"The acquisition of PharmaForm is central to our corporate strategy of becoming an integrated specialty Pharma and pain management Company. It will add complementary platforms and products to our pipeline which will soon be entering clinical trial stages. It will also ensure manufacturing capabilities of Fentanyl TAIFUN® in the U.S., provide us the flexibility to streamline our LAB Pharma unit by leveraging operational synergies and greatly enhance our management and scientific expertise." commented Dr. Halvor Jaeger, CEO of LAB International.
Most read news
Organizations
Other news from the department business & finance

Get the chemical industry in your inbox
By submitting this form you agree that LUMITOS AG will send you the newsletter(s) selected above by email. Your data will not be passed on to third parties. Your data will be stored and processed in accordance with our data protection regulations. LUMITOS may contact you by email for the purpose of advertising or market and opinion surveys. You can revoke your consent at any time without giving reasons to LUMITOS AG, Ernst-Augustin-Str. 2, 12489 Berlin, Germany or by e-mail at revoke@lumitos.com with effect for the future. In addition, each email contains a link to unsubscribe from the corresponding newsletter.
Most read news
More news from our other portals
Last viewed contents

Changes in the leadership team of Performance Materials - Merck announced another milestone of its transformation program “Bright Future” for the business sector Performance Materials
Consortium combines strengths to further develop innovative OLED lighting systems - Joint project “TOPAS 2012” develops lighting technology of the future based on organic light-emitting diodes

Need entangled atoms? - Get 'Em FAST! with NIST's new patent-pending method
High-Tech Gründerfonds starts lining up investments for HTGF III fund - Seed-stage investor announces first investments from third fund
New adsorption process makes headway in the United States - Iron hydroxide proves to be a highly effective adsorbent
Makhteshim Agan Industries launches another three important herbicides in the U.S.A. corn market
AkzoNobel to invest in organic peroxide operations in the US and Europe
Frost & Sullivan recognizes BASF’s transformation - BASF showcases its multi-pronged success with a variety of interactive components and its own line of coatings
Chlorinated solvents market not yet fully recovered from economic climate - Perchloroethylene sales remained stable while Methylene Chloride went further down
Favorable Visudyne clinical results announced for occult AMD and pathologic myopia patients

Miniature X-ray source using wiggling electrons
