Javelin drops acquisition deal with Myriad

CAMBRIDGE, Mass. Javelin Pharmaceuticals has dropped an acquisition deal with Myriad Pharmaceuticals in favor of one with Hospira, Javelin announced Monday.

Javelin had announced in December that MPI would acquire it, but Hospira offered what Javelin considered a “superior” offer, $141 million, according to published reports.

Hospira also offered to loan Javelin more than $17 million to pay off its debts and pay a merger termination fee to MPI.