CollaGenex Pharmaceuticals, Inc. (NASDAQ: CGPI) has agreed to be acquired by Galderma Pharma SA overseas for $16.60 per share share in cash in a merger valued at approximately $420 million.
CollaGenex is focused on developing and marketing proprietary medical therapies to the dermatology market. Its product Oracea was launched in July 2006 and is the first FDA-approved systemic product for the treatment of rosacea.
Galderma is also in dermatology and was originally formed in 1981 as a joint venture between Nestlé and L'Oréal, and it is a fully integrated specialty pharmaceutical company dedicated exclusively to the field of dermatology.
This represents a 30% gain for shareholders, and is more than a 5-year high. With a 52-week trading range of $7.27 to $14.79 and this being the highest prices seen in more than 5-years, it is hard to imagine that shareholders will fight this one.
CollaGenex is focused on developing and marketing proprietary medical therapies to the dermatology market. Its product Oracea was launched in July 2006 and is the first FDA-approved systemic product for the treatment of rosacea.
Galderma is also in dermatology and was originally formed in 1981 as a joint venture between Nestlé and L'Oréal, and it is a fully integrated specialty pharmaceutical company dedicated exclusively to the field of dermatology.
This represents a 30% gain for shareholders, and is more than a 5-year high. With a 52-week trading range of $7.27 to $14.79 and this being the highest prices seen in more than 5-years, it is hard to imagine that shareholders will fight this one.
