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Mallinckrodt to acquire Cadence Pharmaceuticals
DUBLIN — Mallinckrodt and Cadence Pharmaceuticals on Tuesday announced that they have entered into a definitive agreement under which a subsidiary of Mallinckrodt will commence a tender offer to acquire all outstanding shares of Cadence Pharmaceuticals for $14.00 per share in cash or approximately $1.3 billion on a fully diluted basis, which represents a 32% premium to the trailing 30-trading-day volume weighted average price of $10.62 per share for Cadence Pharmaceuticals.
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PhRMA: 180 diabetes medicines in development
WASHINGTON — America’s biopharmaceutical research companies currently are developing 180 new medicines to help the nearly 400 million people who have diabetes worldwide, the Pharmaceutical Research and Manufacturers of America announced Tuesday. These medicines in development — all either in clinical trials or under review by the Food and Drug Administration — include 30 for type 1 diabetes, 100 for type 2 and 52 for diabetes-related conditions.