Allergan to Acquire Vitae Pharmaceuticals
Shares of Allergan were higher Wednesday after announcing plans to acquire biotech company Vitae Pharmaceuticals.
Shares of Allergan (AGN) - Get Report were higher Wednesday after announcing plans to acquire biotech company Vitae Pharmaceuticals. Allergan has agreed to pay $639 million in cash or $21 a share. Vitae shares skyrocketed by more than 150% on the news. Allergan said the deal will strengthen its dermatology pipeline. The transaction is expected to close by the end of 2016 if it gets regulatory approval.
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