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Denmark's Novo acquires Xellia Pharmaceuticals in $700-million deal

3:06 AM MDT | May 22, 2013 | Francinia Protti-Alvarez

Novo A/S (Hellerup, Denmark), parent of pharmaceutical firm Novo Nordisk (Bagsvaerd, Denmark), has acquired Xellia Pharmaceuticals (Oslo) from private equity firm 3i (London) for an enterprise value of $700 million, 3i and Novo have announced. The company 3i says it reaped a 2.3-times return on the original $395-million investment made in 2008. The closing of the transaction will be subject to relevant competition law approvals and is expected to take place during the third quarter of 2013. "Xellia strongly complements our portfolio of significant...

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