Cubist completes Adolor purchase
Cubist Pharmaceuticals Inc. said today that it has completed its acquisition of fellow drugmaker Adolor Corp. for about $221 million. Lexington-based Cubist said it bought all of Exton, Pa.-based Adolor’s outstanding shares for $4.25 per share in cash. Adolor shareholders will also receive up to an additional $4.50 per share if certain milestones are met in the development of a potential treatment for chronic, opioid-induced constipation, Cubist said. Effective today, Adolor common stock ceased trading on the Nasdaq stock exchange.