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...Dainippon Sumitomo Pharma is close to an agreement to buy US drugmaker Sepracor in a drive to expand in the world’s biggest pharmaceutical market, reports Bloomberg, citing Japanese media reports....
...Dainippon Sumitomo Pharma is buying Sepracor in the US for $2.6bn in a deal that highlights strong appetite among Japan’s pharmaceuticals groups for overseas acquisitions....
...Dainippon Sumitomo Pharma’s $2.6bn acquisition of Boston-based Sepracor is the latest multibillion-dollar Japanese takeover of a foreign drugmaker....
...Sepracor, which had sales of $1.3bn last year, has strength in the treatment of central nervous system and respiratory disorders....
...This year, there have already been 12 transactions, including Dainippon Sumitomo’s $2.6bn purchase of the US’s Sepracor, though the size of deals has generally been smaller....
...Sepracor was up 0.2 per cent at $22.85 after Dainippon Sumitomo Pharma agreed to buy the drugmaker for $2.6bn....
...The company said it was close to reaching an agreement to buy Sepracor, a US company, for $2.7bn....
...Potential targets include US-based Sepracor, the UK’s Shire Pharmaceuticals and two Scandinavian firms, Lundbeck and Orion....
...But indiplon’s delay also did not remove all of the concerns surrounding Sepracor....
...Fellow drugmaker Sepracor surged 17.6 per cent to $56.91 after it topped market expectations with its results....
...Sepracor shares have moved higher this week on takeover talk. Glaxo shares gained 0.6 per cent to £12.62....
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