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news.US-based pharmaceutical company NitroMed has reported the closing of its acquisition by affiliates of Deerfield Management, a healthcare investment organization.
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Pursuant to the terms of the previously announced agreement and plan of merger, at the effective time of the merger each share of NitroMed common stock was automatically converted into the right to receive $0.8585 in cash, without interest.
NitroMed is the maker of BiDil, an orally administered medicine available in the US for the treatment of heart failure in self-identified black patients.