Warburg Pincus to sell Nasdaq-listed Inspire's stake to Merck
US private equity major Warburg Pincus is to exit its entire 28 per cent stake in Nasdaq-listed Inspire Pharmaceuticals, as the company is acquired by pharma giant Merck in a $430m deal.
Merck will pay $5 per share for Inspire, a specialty pharmaceutical company focused on developing and commercialising ophthalmic (eye care) products, representing a 26 per cent premium over the company’s $3.98 closing price on Monday.
The company’s share prices have jumped. Inspire’s board of directors has already approved the deal and is recommending shareholders do the same.
Founded in 1993 and publicly traded since 2000, Inspire currently markets three ophthalmology products and has two drugs in late-stage clinical development: Denufosol in Phase III for the treatment of Cystic Fibrosis and AzaSite for blepharitis.
Merck will pay $5 per share for Inspire, a specialty pharmaceutical company focused on developing and commercialising ophthalmic (eye care) products, representing a 26 per cent premium over the company’s $3.98 closing price on Monday.
The company’s share prices have jumped. Inspire’s board of directors has already approved the deal and is recommending shareholders do the same.
Founded in 1993 and publicly traded since 2000, Inspire currently markets three ophthalmology products and has two drugs in late-stage clinical development: Denufosol in Phase III for the treatment of Cystic Fibrosis and AzaSite for blepharitis.
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