Industry news
Arbor Pharma acquires XenoPort and with it Horizant
Arbor Pharmaceuticals, and XenoPort, Inc.announced that they have signed a definitive agreement under which Arbor will acquire XenoPort for $7.03 per share in cash, or a total equity value of approximately $467 million. The purchase price per share represents a 60 percent premium to the closing price of XenoPort shares on May 20, 2016. XenoPort, Inc. is a biopharmaceutical company focused on commercializing Horizant in the United States. XenoPort has entered into a clinical trial agreement with the National Institute on Alcohol Abuse and Alcoholism (NIAAA) under which the NIAAA has initiated a clinical trial evaluating Horizanrt as a potential treatment for patients with alcohol use disorder.
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