HalcyGen to buy fellow Australian drugmaker Mayne Pharma for $15 million
Australian biotechnology firm HalcyGen Pharmaceuticals says it has entered into a definitive agreement with Hospira Australia Pty, a wholly-owned subsidiary of Hospira, to acquire all the outstanding shares in Mayne Pharma International (MPI) ' one of the businesses Hospira purchased when it acquired Mayne Pharma in 2007 - for a consideration of $15.0 million and an 'earnings sharing arrangement.' The move is viewed as an attempt by HalcyGen to move into the nation's major league companies, and the deal is expected to close in October.
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