EirGen: Irish pharmaceutical company bought for $135m
Published 06/05/2015 | 08:17
Irish pharmaceutical company EirGen has been bought for $135m by US pharmaceutical and diagnostics company Opko.
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.