MGI Pharma To Buy Guilford - Pharmaceutical Technology

Latest Issue
PharmTech

Latest Issue
PharmTech Europe

MGI Pharma To Buy Guilford

ePT--the Electronic Newsletter of Pharmaceutical Technology

MGI Pharma To Buy Guilford MGI Pharma To Buy Guilford

MGI Pharma (Minneapolis, MN) signed a merger agreement on July 20 to purchase Guilford Pharmaceuticals (Baltimore, MD) for approximately $177.5 million. MGI Pharma plans to advance creation of an acute care business and enhance their existing oncology franchise.

The merger also gives several important assets to MGI Pharma, including Aquavan, a late-stage, acute care product candidate for procedural sedation; Gliadel, a marketed product for high-grade malignant gliomas that complements MGI Pharma’s current oncology franchise; and the Guilford field organization.

“Moreover, the addition of two early stage programs, NAALADase inhibitors for chemotherapy-induced neuropathy, and PARP inhibitors, as chemotherapy or radiation therapy sensitizers, fit strategically into our oncology development pipeline,” said Lonnie Moulder, president and CEO of MGI Pharma, in a prepared statement.

Upon closing of this agreement, a director of Guilford Pharmaceuticals will be nominated to join the MGI Pharma board of directors. The acquisition, which has been approved by the boards of directors of both companies, is subject to Guilford stockholder approval and other customary closing conditions, and is expected to close during the fourth quarter of 2005.

–George Koroneos

ADVERTISEMENT

blog comments powered by Disqus
LCGC E-mail Newsletters

Subscribe: Click to learn more about the newsletter
| Weekly
| Monthly
|Monthly
| Weekly

Survey
FDASIA was signed into law two years ago. Where has the most progress been made in implementation?
Reducing drug shortages
Breakthrough designations
Protecting the supply chain
Expedited reviews of drug submissions
More stakeholder involvement
Reducing drug shortages
70%
Breakthrough designations
4%
Protecting the supply chain
17%
Expedited reviews of drug submissions
2%
More stakeholder involvement
7%
View Results
Eric Langerr Outsourcing Outlook Eric LangerTargeting Different Off-Shore Destinations
Cynthia Challener, PhD Ingredients Insider Cynthia ChallenerAsymmetric Synthesis Continues to Advance
Jill Wechsler Regulatory Watch Jill Wechsler Data Integrity Key to GMP Compliance
Sean Milmo European Regulatory WatchSean MilmoExtending the Scope of Pharmacovigilance Comes at a Price
From Generics to Supergenerics
CMOs and the Track-and-Trace Race: Are You Engaged Yet?
Ebola Outbreak Raises Ethical Issues
Better Comms Means a Fitter Future for Pharma, Part 2: Realizing the Benefits of Unified Communications
Better Comms Means a Fitter Future for Pharma, Part 1: Challenges and Changes
Source: ePT--the Electronic Newsletter of Pharmaceutical Technology,
Click here