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US: PharmAthene to pay $1M for failed pharma merger

By  |  December 2, 2013

Pharmaceutical company PharmAthene is reportedly set to pay competitor Theraclone a $1 million breakup fee following the implosion of the companies’ planned merger.

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    PharmAthene called the deal off, though neither party has explained what caused merger talks to collapse.

    The firms first announced last August that they planned to merge into a company with the name PharmAthene. Reports say the new entity would combine PharmAthene’s government contracting business for anthrax products with Theraclone’s antibody drug discovery operations.

    Full Content: Xconomy

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