Baltimore pharmaceutical company acquiring North Carolina firm for at least $27 million

Baltimore pharmaceutical company Cerecor Inc. is acquiring another drug maker for up to $27 million in cash and common stock. Cerecor is buying TRx Pharmaceuticals LLC, a company based in North Carolina that was projected to do about $13 million in net sales this year. The transactions are expected to close today. Under the terms of the deal, Cerecor (Nasdaq: CERC) will make pay an initial $23 million for the purchase o f TRx — $18.9 million in cash and $4.1 million in Cerecor common stock. The…
Source: bizjournals.com Health Care:Biotechnology headlines - Category: Biotechnology Authors: Source Type: news