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Business

Dainippon’s Sunovion Acquires Elevation

by Rick Mullin
September 10, 2012 | APPEARED IN VOLUME 90, ISSUE 37

Sunovion Pharmaceuticals has acquired Elevation Pharmaceuticals, a specialist in aerosol therapies for respiratory diseases. The acquisition includes Elevation’s EP-101, a long-acting bronchodilator in Phase II clinical trials for the treatment of chronic obstructive pulmonary disease. Sunovion, a subsidiary of Dainippon Sumitomo Pharma, will pay $100 million to Elevation’s shareholders plus developmental milestone payments of up to $90 million and commercial milestone payments of up to $210 million. Sunovion was called Sepracor until Dainippon Sumitomo acquired it in 2009.

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