Paion Shares Soar as Lundbeck Buys Stroke Drug Desmoteplase
By Cormac Sheridan
Wednesday, February 29, 2012
Shares in struggling German drug developer Paion AG soared by more than 30 percent Tuesday on news that its partner, Lundbeck A/S, was handing it a financial lifeline by agreeing to pay €20.1 million (US$27 million) to acquire all outstanding rights to its Phase III stroke drug desmoteplase.
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