Allergan exercises option to buy ASTI
Allergan exercises optionto buy ASTI
Allergan has announced that it plans to exercise its option to acquire Allergan Specialty Therapeutics Inc for $21.70 a share in cash. The company said that the exercise price for the options has been calculated in accordance with the incorporation documents establishing ASTI in 1998, when Allergan set the firm up to conduct research, develop potential pharmaceutical products and commercialize them.
Allergan also notes that it has established a plan to fully-fund the majority of ASTI's existing technology plans, through either partnering arrangements, the use of third-party R&D organizations or by directly funding the plans itself. In addition, it says that a number of the technology programs will be transferred to Bardeen Sciences Co, an independent, privately-owned company which focuses on R&D of innovative, longer-term pharmaceutical projects.
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