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Mallinckrodt to acquire Sucampo for $1.2B; Japan approves Alexion's Soliris

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Mallinckrodt to acquire Sucampo for $1.2B; Japan approves Alexion's Soliris

Top news

* Mallinckrodt Plc agreed to acquire Sucampo Pharmaceuticals Inc. in a transaction valued at about $1.2 billion. Under the deal, a unit of Mallinckrodt will start a cash tender offer to buy all of Sucampo's outstanding shares for $18 per share.

* Japan's Ministry of Health, Labour and Welfare approved Alexion Pharmaceuticals Inc.'s Soliris for treating certain cases of generalized myasthenia gravis, a disease causing skeletal muscle weakness. The approval is based on data from the phase 3 Regain study.

M&A and capital markets

* Pharmacy chain Super-Pharm (Israel) Ltd. is in discussions to buy Teva Pharmaceutical Industries Ltd.'s manufacturing plant in Ashdod, Israel, Reuters reported, citing a source familiar with the matter. Under the deal, Super-Pharm will pay Teva 60 million shekels to 80 million shekels for the plant.

* Summit Therapeutics plc acquired privately held U.K.-based Discuva Ltd to strengthen its antibiotics business. The deal is for a consideration of £5 million in cash and £5 million in new ordinary shares of Summit issued to Discuva shareholders at a price of 170.4 pence per share.

Drug and product pipeline

* DelMar Pharmaceuticals Inc. said the U.S. Food and Drug Administration granted the fast track designation for the company's VAL-083 for treating recurrent glioblastoma, a type of brain cancer. The status applies to two ongoing clinical trials evaluating the treatment.

* Alembic Pharmaceuticals Ltd. said its associate company Rhizen Pharmaceuticals SA received the U.S. FDA's orphan drug designation for tenalisib to treat peripheral T-cell lymphoma, a type of cancer that begins in the immune system.

Other features

* The New York Times wrote a feature on cellular proteins that could soon be tailored to a specific design and used for specific tasks ranging from fighting viruses to breaking down gluten in food.

The day ahead

Early morning futures indicators pointed to a lower opening for the U.S. market.

In Asia, the Nikkei 225 fell 0.20% to 22,892.69.

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