ViroPharma Incorporated (Nasdaq:
VPHM) is down more than 20% today after announcing before the opening it would acquire
Lev Pharmaceuticals Inc. (OTC:
LEVP) for $443 million in cash and stock. ViroPharma, an Exton, Pa.-based biopharmaceutical company, will offer $2.75 per share for Lev Pharma, which includes $2.25 in cash and $0.50 in ViroPharma common stock. The purchase will give ViroPharma the drug Cinryze, a treatment for hereditary angioedema disease. The deal is expected to close at by the end of 2008.
ViroPharma shares are at $9.97 at 10:05 a.m. ET, down $2.57 from Monday’s close. The stock has ranged from $7.11 to $14.85 during the past year.
For detailed price information and recent news stories about ViroPharma Incorporated, click VPHM.
