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Acorda to buy Finland's Biotie to boost Parkinson's pipeline

Jan 19, 2016 - The Deal 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...