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King and Alpharma = $1.6B Deal

After months of courting (read, hostile negotiation) King Pharmaceuticals has finally reached a deal to acquire drugmaker Alpharma for $1.6B.  An earlier bid of $1.4B was rejected in August.

Alpharma made news earlier this month when it’s painkilling compound, Embeda, was shown to have less potential for addiction than stand-alone morphine.  

Analysts commented that the deal clearly made sense, though the currently unfavorable economic climate led to a less attractive loan package for King.

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November 25, 2008 - Posted by | Deals, Pharma

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