Allergan buys an ailing Repros, bagging a women’s health drug for the pipeline
After a lengthy deal spree, Allergan $AGN is going shopping in the penny stock aisle.
The company says it has struck a deal to buy out Repros $RPRX and its troubled late-stage drug for uterine fibroids and endometriosis, held up by a partial hold at the FDA as regulators maintain demands for significantly more safety data.
The acquisition comes with an offer of 67 cents a share.
The biotech, based in The Woodlands, TX, has been struggling for years, with a low T therapy that aimed for an approval just as the agency was raising the bar on safety on testosterone treatments. Last summer Repros signaled that it remained in trouble on Proellex, with regulators demanding a bigger trial with a broader focus on safety for their drug to treat uterine fibroids.
Unlock this article instantly by becoming a free subscriber.
You’ll get access to free articles each month, plus you can customize what newsletters get delivered to your inbox each week, including breaking news.