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Baxter to acquire Prism Pharma for $338m

Baxter International has entered into an agreement to acquire Prism Pharmaceuticals, a speciality pharma company based in King of Prussia, Pennsylvania

Baxter International has entered into an agreement to acquire Prism Pharmaceuticals, a speciality pharma company based in King of Prussia, Pennsylvania in a deal worth up to $338m. 

The terms of the agreement include an upfront payment of $170m with the potential for a further $168m in future milestone payments. 

Prism's product portfolio includes the anti-arrhythmic agent Nexterone (amiodarone HCl), which is approved by the US Food and Drug Administration (FDA) for multiple presentations including the first and only ready-to-use premixed intravenous (IV) bag formulations as well as vials and a pre-filled syringe.

"Nexterone is a great addition to our leading portfolio of premix drugs and solutions for the acute care setting. It offers clinicians a unique, ready-to-use anti-arrhythmic agent for critical and time sensitive situations, while also providing convenience to caregivers and value to pharmacists," said Robert M Davis, president of Baxter's Medical Products business. "Based on our strong hospital relationships and familiarity with the product, Baxter is well-positioned to launch the ready-to-use presentations of Nexterone."

The companies expect to close the deal during the second quarter of 2011.

19th April 2011

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