So, tell me. After reading the excerpt from this National Post story, just who is benefitting from this Parkinson’s treatment? What is it likely to do to the cost of the medication? Anyone following the Epi-pen boondoggle?
Toronto pharmaceutical company behind new Parkinson’s drug bought for $820 million Financial Post, August 31, 2016
Days after winning regulatory approvals for a new drug to treat Parkinson’s disease, Toronto-based Cynapsus Therapeutics Inc. announced it would sell itself to a much larger international pharmaceutical company for $820 million.
Sunovion Pharmaceuticals Inc., a subsidiary of Osaka, Japan-based Sumitomo Dainippon Pharma Co., announced after markets closed Wednesday that it had struck an $820 million deal to buy all the outstanding shares of Cynapsus. The deal’s value represents a significant premium on the company’s market capitalization of $228 million on Wednesday.
Sunovion made it clear the Parkinson’s medication — which is designed to treat what are known as “off episodes,” during which a patient’s brain dopamine levels are too low for normal motor function — was the target of the acquisition.
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