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Merz acquire BioForm Medical
Merz Pharma have agreed to acquire BioForm Medical for $253m, expanding its presence in cosmetic pharmaceuticals
Merz Pharma Group have agreed to acquire BioForm Medical Inc (BFRM) for $253m, expanding its cosmetic pharmaceuticals portfolio. The privately held German pharmaceutical company already has a presence in anti-ageing skincare with their product Belotero - the world's first monophasic hyaluronic acid dermal filler with patented CPM technology.
Merz will pay $5.45 per BioForm share, a 60 per cent premium to the company's Thursday closing price.
BioForm, which went public in late 2007, specialises in injectable drugs to improve the appearance of the skin, including treatment of wrinkles and folds, as well as varicose veins. The company is non profitable, though sales have been improving and last November BioForm narrowed its loss forecast for its fiscal year ending June 30.
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