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Upsher-Smith acquires the rest of neurology partner Proximagen for £187.6mm up front

Executive Summary

Expanding its R&D organization, especially in the CNS area, Upsher-Smith Laboratories Inc. (generic and brand drugs across neurology, dermatology, cardiology, and women’s health) is acquiring the 84.13% of public UK biotech and business partner Proximagen Group PLC that it didn’t already own for £187.6mm ($290.8mm) up front (£3.20 per share, a 20% premium) plus earn-outs. US-based Upsher will continue operating Proximagen’s Cambridge and London facilities.

Deal Industry
  • Biotechnology
  • Pharmaceuticals
  • Pharmaceuticals
    • Specialty Pharmaceuticals
Deal Status
  • Final
Deal Type
  • Acquisition
    • Includes Earnout
    • Partial Acquisition
    • Payment Includes Cash for Equity

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