Sciele Pharma acquired by Japan’s Shionogi for $1.1 billion
Shares of Sciele Pharma, Inc. (Nasdaq:SCRX) are rocketing in pre-market trading after the small biopharmaceutical company said Monday that it will be acquired by Japanese pharmaceutical manufacturer Shionogi & Co for $31 per share, or $1.1 billion in aggregate. The buyout price represents a 61% premium over Sciele’s closing price on Friday. This is just another sign that lower stock prices domestically are enticing foreign buyers.
Shares jumped 59%, or $11.27, to $30.54 in pre-market trading. For detailed price information and news stories on Sciele Pharma, click SCRX.
