GENSIA COMPLETES KENDALL MCGAW PURCHASEGensia Pharmaceuticals Inc. of San Diego said Wednesday itcompleted the previously announced purchase of KendallMcGaw Pharmaceuticals (KMP) of Irvine, Calif., for about $15million.
Gensia (NASDAQ:GNSA), which paid for the purchase fromcorporate funds, said it was in discussions "with a number offinancial institutions" and anticipates closing a financing relatedto the acquisition in the next few months. The acquisition wasannounced in October, contingent on Gensia obtaining financing.(For more information on the deal, keyword search in theIndustry Library for 102390GENSIA.)
EUROPEAN SALES PROSPECTS SPUR CENTOCOR
Centocor's common stock has risen $4.50 a share in the lastthree days, closing Wednesday at $45. The moves may be inresponse to prospects for European sales of the company'sCentoxin septic shock drug.
Centocor Chairman Hubert Schoemaker has said that Europeanregulators may review Centoxin this quarter, with possiblesales in the second quarter. However, the company haspredicted such sales for some time, said spokesman CharlesCabot. Centocor (NASDAQ:CNTO) has a $100 million offering ofconvertible subordinated notes under way.
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