Issue Date: April 25, 2011
Baxter To Buy Prism, Getting Heart Drug
Baxter International has agreed to acquire Prism Pharmaceuticals, a privately held drug firm that recently received FDA approval for the antiarrhythmic agent Nexterone. Baxter will pay $170 million at closing and up to $168 million in sales-based milestones. Sold as a ready-to-use premixed intravenous bag, Nexterone requires no admixing, Baxter says, thus eliminating the risk of medication errors as a result of compounding. Prism had previously selected Baxter as its contract manufacturer.
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