Advertise With UsAdvertise on our extensive network of industry websites and newsletters.
Get the PBR newsletterSign up to our free email to get all the latest PBR
news.Merck, known as MSD outside the US and Canada, is set to take over Inspire Pharmaceuticals, a specialty pharmaceutical company engaged in developing and commercializing ophthalmic products, for approximately $430m.
Subscribe to our email newsletter
As per the terms of the agreement, Merck, through a subsidiary, will initiate a tender offer for all outstanding common stock of Inspireat a price of $5 per share in cash, a 26% premium to the closing price of Inspire’s common stock on April 4, 2011.
Upon the completion of the tender offer, Merck will acquire all remaining shares through a second-step merger.
Merck Neuroscience and Ophthalmology senior vice president and general manager Beverly Lybrand said this deal helps address the needs of patients and customers in ophthalmology and creates value for both companies.