Dainippon Sumitomo Pharma Co. Ltd. and Sepracor Inc. announced the successful completion of the tender offer by DSP subsidiary, Aptiom, Inc. , to acquire all outstanding shares of common stock of Sepracor for $23 per share in cash.
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Last month, Sepracor, the Marlborough drug firm perhaps best known for marketing the Lunesta insomnia aid, announced a $2.6 billion deal to sell itself to Dainippon Sumitomo Pharma Co. of Japan.
According to a Globe story from September, Dainippon Sumitomo proposed the deal because it hopes to use Sepracorís expertise to help it launch lurasidone, an experimental schizophrenia treatment that is currently in advanced clinical trials. And because the deal gives Dainippon Sumitomo access to Sepracorís sales force of 1,200 representatives, the Japanese company will not have to build its own US sales force from scratch. (Globe Staff)