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Clinigen agrees to buy rival firm Quantum

BRITISH pharmaceuticals firm Clinigen yesterday agreed to buy smaller Aim-listed rival Quantum Pharma for £150.3m.

Clinigen, which specialises in the supply of unlicensed medicines to doctors and hospitals, said the acquisition will put it in a stronger position to drive its global expansion.

Under the deal, Quantum shareholders will receive 37p in cash and 0.0405 new Clinigen shares for each Quantum share held. Based on Clinigen's closing price on Tuesday of 1,111p, that values eac

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