BioCentury
ARTICLE | Strategy

One deal at a time

October 22, 2007 7:00 AM UTC

Orexo AB is acquiring Biolipox AB to add critical mass and put the company in a better position for future M&A. Orexo hopes a future purchase of a sales and marketing company will enable it to integrate forward to become a specialty pharma.

Last Monday, Orexo (SSE:ORX, Uppsala, Sweden) said it would acquire Biolipox (Stockholm, Sweden) for 8.6 million shares of ORX stock, which values the inflammation, neurology and pulmonary company at SEK776.8 million ($120.9 million) based on ORX's close of SEK90.75 the prior Friday, before the deal was announced. Biolipox shareholders would own 38% of the combined company...