Sciele to buy Alliant for $122M

Sciele Pharma has agreed to acquire fellow USA-based Alliant Pharmaceuticals, a privately-held pediatric specialty drugmaker headquartered in Alpharetta, Georgia. Sciele will pay $122.0 million in cash for Alliant, which includes $12.0 million in indebtedness to be paid at closing. The deal also includes potential payments of up to $55.0 million based on meeting certain profit targets and product development targets for Alliant's new drugs. This transaction, which is subject to US antitrust clearance as well as other customary closing conditions, is expected to be completed during the second quarter of 2007. Alliant is forecast to generate revenues of around $50.0 million to $60.0 million for full-year 2007, Sciele noted.