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Otsuka Pharmaceutical to acquire US biotech firm Astex Pharmaceuticals

4:45 AM MDT | September 10, 2013 | Natasha Alperowicz

Otsuka Pharmaceutical Co. (Tokyo) and Astex Pharmaceuticals (Dublin, CA) have  announced that their boards of directors have unanimously approved a transaction under which Otsuka will acquire all of the outstanding shares of Astex for approximately $886 million. Otsuka intends to make a tender offer and expects to close the transaction early in the fourth quarter of 2013, subject to the satisfaction of customary closing conditions.   Astex is dedicated to the discovery and development of novel small molecule therapeutics with a particular focus on...

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