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Cephalon to Acquire Cima for $515 Million

By Biotechdaily staff writers
Posted on 25 Nov 2003

A definitive agreement to merge their two companies has been announced by Cephalon, Inc. More...

(West Chester, PA, USA) and Cima Labs, Inc. (Eden Prairie, MN, USA). The total value of the transaction is about U.S.$515 million. Cima will become a wholly owned subsidiary of Cephalon.

Cima has developed innovative oral drug delivery technologies, including OraVescent, and is developing an OraVescent form of fentanyl, which if approved could be a valuable product for the Cephalon pain care sales force. Cephalon is a biopharmaceutical company focused on the discovery and development of innovative products to treat sleep and neurologic disorders and pain. The company intends to encourage the growth of Cima's core business and to supplement its technology platform with Cephalon's own drug delivery assets, acquired in other mergers and acquisitions.

"Combining Cima's innovative delivery technologies together with our clinical development, regulatory, and sales and marketing experience will create tremendous new opportunities for Cephalon,” said Frank Baldino, Jr., chairman and CEO of Cephalon.

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