Cardiotronics
This article was originally published in The Gray Sheet
Executive Summary
Has reached a tentative agreement to buy the 1 mil. shares of R2 Medical Systems held by the Ventana Growth Fund, L.P. and the Ventana Growth Fund II, L.P. for a price of $6.50 per share as part of its effort to buy the firm. Cardiotronics had previously announced an agreement, pending due diligence, to purchase the shares from Darox Corp. ("The Gray Sheet" July 4, p. 33). Darox is R2's former parent and is owned by the Ventana entities. Cardiotronics is also is attempting to purchase the remaining 1.65 mil. shares of R2 common stock for $5.25 per share. R2 says the offer is still in the negotiating stage and no formal agreements have been reached. R2 rejected Cardiotronics previous offer to purchase the company at $4 a share in May ("The Gray Sheet" May 16, p. 24)
You may also be interested in...
Chinese Firms Up Their Game In Novel Flu Antiviral Development
Joincare Pharmaceutical and partner TaiGen Biotechnology tout preliminary Phase III results in uncomplicated acute influenza for TG-1000, a homegrown follower of Shionogi/Roche’s oral antiviral Xofluza. Novel antivirals for flu were hotly pursued by Chinese developers throughout 2023.
Quotable: Words Of Wisdom From Our Recent APAC Coverage
Scrip's APAC team selects notable quotes from recent interviews, conferences and other coverage to highlight the views of senior executives and officials on the major topics facing the biopharma sector in the region.
Generic Or Innovator? Sandoz Sues CMS Over Potential Change In Rebate Classification
Sandoz argued against paying higher rebates for two of its drugs via the Centers for Medicare and Medicaid Services’ Medicaid drug rebate program in a US court six years after the suggestion was first made.