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news.ViroPharma, a biopharmaceutical company, has completed its acquisition of Lev Pharmaceuticals following the approval of the transaction by Lev stockholders.
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Lev stockholders will receive $2.25 in cash, 0.042146 shares of ViroPharma common stock and one non- transferable contingent value right which entitles the holder to receive up to two contingent payments of $0.50 each in cash, payable upon the achievement of certain regulatory and commercial milestones, for each share of Lev common stock that they own. The total number of ViroPharma shares to be issued as part of the merger consideration is 7.2 millions.
Separately, ViroPharma has announced that the FDA granted seven years of marketing exclusivity to Cinryze C1 inhibitor for routine prophylaxis of hereditary angioedema pursuant to the Orphan Drug Act.
Judson Cooper, former chairman of the board at Lev, said: “This transaction provides our stockholders with attractive financial terms, through the upfront payment and the opportunity to continue to share in the success of the drug through the ownership of ViroPharma shares and the contingent value rights.”