Sun Pharma buys out Concert, and its alopecia drug, for $576M
Concert Pharmaceuticals and its alopecia drug have found a new home.
Mumbai-based Sun Pharma announced early Thursday that it will acquire Concert for $576 million in cash, getting a new foothold in both the alopecia and US markets. The deal valued Concert at $8 per share (roughly a 16% premium on Wednesday’s closing price) and also included a $3.50 CVR dependent on the alopecia drug hitting certain milestones.
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