AstraZeneca, the British pharmaceutical company, has purchased Omthera, a State Road company that went public less than three months ago, for $443 million.
Omthera, which has only 14 employees, is developing a heart disease medication based on fish oil. The company went public April 11 with its shares closing at around $7.30 opening day. AstraZeneca paid $12.70 a share.
Omthera is the maker of the experimental drug Epanova, a drug made from fish oil that is designed to help lower people’s triglyceride levels. The drug has passed late stage clinical trials of its safety and effectiveness, and the company has said it expects to apply in mid-2013 for FDA approval to market the drug.
AstraZeneca is the maker of bipolar medication Seroquel IR, high blood pressure drug Atacand, and cholesterol drug Crestor, all of which are now facing competition from generic counterparts.
Omthera Pharmaceuticals Inc., 707 State Road, Suite 200, Princeton 08540; 908-741-4399; Jerry Wisler, president & CEO. www.omthera.com.
