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news.Icon has acquired Healthcare Discoveries, a wholly owned subsidiary of Catalyst Pharma Group. Under the terms of the agreement Icon will pay initial cash consideration of $12 million.
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If certain performance milestones are achieved in 2008, a further consideration, up to a maximum of $10 million may be payable.
Peter Gray, CEO of Icon, said: “The acquisition of Healthcare Discoveries is an important step for Icon. It gives us a clinical pharmacology platform in the US to complement our existing European Phase I operations.”