Unit­ed Ther­a­peu­tics bags ri­val SteadyMed for a bar­gain base­ment deal worth up to $216M, elim­i­nat­ing patent threat

Unit­ed Ther­a­peu­tics $UTHR CEO Mar­tine Roth­blatt won’t be look­ing over her shoul­ders as a po­ten­tial ri­val to Unit­ed’s lead drug makes its way through an FDA re­view, bat­tling over her patents. She bought it in­stead.

Unit­ed this morn­ing hand­ed out a nice pre­mi­um to ac­quire lit­tle SteadyMed $STDY, pay­ing $4.46 for a stock that closed Fri­day at $2.65 with a mar­ket cap of $70 mil­lion. Unit­ed will al­so hand over an­oth­er $2.63 a share based on their progress in scor­ing an ap­proval for SteadyMed’s drug/de­vice com­bo for pul­monary ar­te­r­i­al hy­per­ten­sion, which us­es a re­for­mu­la­tion of Unit­ed’s Re­mod­ulin. The to­tal val­ue of the deal — in­clud­ing the con­tin­gency pay­ment — stretch­es up to $216 mil­lion.

Endpoints News

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.