Wednesday 22 February 2017

EirGen: Irish pharmaceutical company bought for $135m

Published 06/05/2015 | 08:17

Eirgen Pharma founders Patsy Carney and Tom Brennan in the lab in Waterford. Photo: Patrick Browne
Eirgen Pharma founders Patsy Carney and Tom Brennan in the lab in Waterford. Photo: Patrick Browne

Irish pharmaceutical company EirGen has been bought for $135m by US pharmaceutical and diagnostics company Opko.

  • Go To

EirGen, based in Waterford, has around 100 staff and makes chemotherapy drugs.

Miami-based Opko, listed on the New York Stock Exchange, paid $100m in cash and $35m in shares to seal a deal that closed yesterday, the Irish Times reported.

EirGen chief executive Patsy Carney said the company wanted to move to "the next level", and that in February it had made a "relatively soft" approach to the market to gauge interest.

Saudi Pharmaceutical Industries and Medical Appliances Corporation, one of the Middle East's major drugs companies, owned almost half of EirGen.

Online Editors

Read More

Promoted articles

Editors Choice

Also in Business