Unstoppable Allergan: acquired Vitae Pharmaceuticals for $693m

Allergan keeps pursuing M&A and, after taking over RetroSense Therapeutic for $60m, announced today, before Wall Street opening, that it has acquired Vitae Pharmaceuticals for $639m. The acquired company operates in the psoriasis and dermatitis drug business, with molecules currently in phase-2 clinical trial. The major Vitae Pharma’s asset is maybe CONTOUR®, a computational tool to discover new molecules with therapeutic potential. Allergan has paid $21 per share — a considerable premium over the previous close (8.10$). Allergan tried to take over Anacor’s dermatology portfolio in May, but it was beaten by Pfizer, which acquired Anacor for $5.2bn.
(Source Allergan and Reuters)