Ipsen to acquire Tercica in $663 million deal

NEW YORK Paris-based pharmaceutical company Ipsen is buying Brisbane, Calif.-based biotechnology company Tercica for $663 million, or $9 a share.

Ipsen was already a major shareholder in Tercica, and the deal puts it in control of the remaining shares. It hopes to use the deal to expand operations in the U.S.

Ipsen will also buy British drugmaker Vernalis’ U.S. subsidiary and has acquired rights to Octagen’s experimental hemophilia drug OBI-1.