Elan this week acquired Vienna, Austria-based AOP Orphan Pharmaceuticals and 48% of Newbridge Pharmaceuticals, which is headquartered in Dubai.
Under the terms of the first deal, Elan will pay €263.5 million ($340 million) for full ownership of AOP, comprised of €175.7 million ($227 million) in cash and €87.8 million ($113 million) of Elan ordinary shares. Additionally, the firm will make potential cash milestone payments of up to €270 million ($348.6 million) on the advancement of certain late stage clinical programs, it said.
As for the second, Elan will pay Newbridge $40 million in exchange for 48% of the total fully diluted capitalization of the company. Further, Elan has the option to purchase the remaining stake in Newbridge by 2015 for a sum of $244 million, and added two members to its target’s board of directors.