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

 |  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.

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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