Pharmacia acquires remainder of Sensus
Pharmacia Corp has completed the acquisition of privately-held SensusDrug Development Corp in a move which completes a deal begun in 1999, when the former purchased a 19.9% stake in the Texas, USA-based firm.
Pharmacia's acquisition of the remainder of Sensus, which specializes in developing drugs to treat endocrine disorders, will result in a special charge of $0.03 per share for the first quarter but, excluding this item, the purchase will have no impact on the New Jersey-based major's full-year 2001 earnings. Further financial terms were not disclosed.
Recently, Sensus filed a New Drug Application in the USA for Somavert (pegvisomant), a growth hormone receptor antagonist for the treatment of acromegaly (Marketletter February 12). The US Food and Drug Administration and regulatory agencies in Europe and Japan have granted Somavert orphan drug status, given that acromegaly is estimated to affect around 40,000 people in those three territories.
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