01-Sep-2008
Story Timeline: 92 days
TOKYO, Sept 1 - Shionogi & Co, Japan’s sixth-largest drug maker by market value, said it planned to buy U.S.-based Sciele Pharma Inc for $1.4bn as it seeks to expand in the key U.S. market. Shionogi said it will offer $31 per Sciele Pharma share, a 61 per cent premium to the U.S. firm’s closing share price of $19.27 on Friday. Georgia-based Sciele Pharma specialises in branded prescription products focused on...
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