Acorda to buy Finland's Biotie to boost Parkinson's pipeline
Nasdaq-listed Acorda Therapeutics Inc. (ACOR) aims to bolster its pipeline of Parkinson's disease therapies with the purchase of Finland's Biotie Therapies Corp. (BITI) for $363 million.
The Ardsley, N.Y., buyer agreed to offer a generous 95% premium to Biotie's closing price in Helskini on Jan. 18, or Euro0.2946 (32 cents) per share. It is offering a similar 94% premium for Biotie's Nasdaq-listed American depositary shares, or the equivalent of Euro23.568 per share.
The deal will gi...