Ipsen Buying Tercica


	Ipsen Buying Tercica

Matthew Herper

6-4-2008 9:19 PM

925 views

Matthew Herper says:

The weak dollar strikes again, as another U.S.-based biotech gets bought by an overseas drugmaker. Ipsen already owned 25% of Tercica, which makes a hormone for treating children who are not growing adequately. Still, that 104% premium is pretty eye-catching.

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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/f033acec-2b3a-4b0c-990f-f12f7750ddc1/53AF1553-3440-4C33-A40C-8503534B7836/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://biz.yahoo.com/bw/080604/20080604006383.html?.v=1" href="http://biz.yahoo.com/bw/080604/20080604006383.html?.v=1" style="font-size: 11px;">biz.yahoo.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://biz.yahoo.com/bw/080604/20080604006383.html?.v=1"><SPAN class="t">Ipsen to Acquire Tercica</SPAN></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://biz.yahoo.com/bw/080604/20080604006383.html?.v=1"><P><SPAN id="bwanpa3">“</SPAN>The combination of Ipsen<SPAN id="bwanpa4">’</SPAN>s 
      and Tercica<SPAN id="bwanpa5">’</SPAN>s development and product 
      portfolios provides the opportunity to create a leading global 
      endocrinology company,<SPAN id="bwanpa6">”</SPAN> said John A. Scarlett, 
      M.D., Chief Executive Officer of Tercica. <SPAN id="bwanpa7">“</SPAN>We 
      believe this transaction recognizes the value we have created at Tercica 
      and provides our stockholders with attractive financial terms.<SPAN id="bwanpa8">”</SPAN></P><P>Ipsen and its affiliates currently own approximately 25.3% of the 
      outstanding Tercica common stock. Ipsen has agreed to exercise its 
      outstanding Tercica warrant and convert its outstanding Tercica 
      convertible notes promptly following today<SPAN id="bwanpa9">’</SPAN>s 
      agreement. Upon such exercise and conversion, Ipsen and its affiliates 
      will own approximately 42.7% of the outstanding Tercica common stock.</P></blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/53AF1553-3440-4C33-A40C-8503534B7836/blog/" title="blog or email this clip"><img src="http://content9.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

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