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news.MGI Pharma, an oncology and acute care focused biopharmaceutical company, has completed its acquisition of Guilford Pharmaceuticals for a total consideration of $179.6 million.
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Under the terms of the acquisition all shares of Guilford were exchanged for 5.3 million shares of MGI Pharma stock plus $53.9 million in cash, which represents $3.75 per Guilford share, and a total consideration of $179.6 million.
“This strategic transaction enhances MGI Pharma’s late-stage acute care development pipeline by adding Aquavan Injection, a complementary product to Aloxi injection for PONV, and adds Gliadel Wafer to our franchise of marketed oncology products,” said Lonnie Moulder, president and CEO of MGI Pharma.