Generic drugmaker Actavis Plc said it would acquire Durata Therapeutics Inc in a deal valued at about $675 million to bolster its infectious disease portfolio.Durata's shares were trading up 77 percent at $24.55 premarket, above Actavis' offer of $23 per share in cash.Actavis will pay up to an additional $5 per share if Durata's lead drug, dalvance, achieves certain milestones, the companies said.Dalvance is designed to treat acute bacterial skin and skin structure infections, or ABSSSI, which affect the deep tissue or are associated with an underlying disease such as diabetes.
Shares of ACT remained unchanged at $246.07. In the past year, the shares have traded as low as $136.52 and as high as $249.94. On average, 2213160 shares of ACT exchange hands on a given day and today's volume is recorded at 0.
Durata Therapeutics, Inc. is a pharmaceutical company focused on the development and commercialization of therapeutics for patients with infectious diseases and acute illnesses. Shares of DRTX traded higher by 73.27% or $10.17/share to $24.05. In the past year, the shares have traded as low as $8.44 and as high as $18.17. On average, 335844 shares of DRTX exchange hands on a given day and today's volume is recorded at 512977.
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