Endo Health Solutions, a U.S.-based specialty healthcare company, has entered into a definitive agreement to acquire NuPathe, a specialty pharmaceutical company focused on neuroscience solutions for central nervous system diseases, for $2.85 per share in cash, or approximately $105 million.
In addition, NuPathe shareholders will receive rights to receive additional cash payments of up to $3.15 per share if specified net sales of NuPathe's migraine treatment ZECUITY are achieved over time.
ZECUITY, which was approved by the FDA in January for the acute treatment of migraine with or without aura in adults, is the first and only FDA-approved prescription migraine patch. It is a disposable, single-use, battery-powered transdermal patch that actively delivers sumatriptan, a widely prescribed migraine medication, through the skin. ZECUITY provides relief of both migraine headache pain and migraine-related nausea (MRN), and was approved based on an extensive development program with phase III trials that included 793 patients using nearly 10,000 ZECUITY patches. In these trials, ZECUITY demonstrated a favorable safety profile and was effective at relieving migraine headache pain and migraine-related nausea two hours after patch activation.
The transaction is expected to be completed in early 2014.