Biotech Values

[DewDiligence]

ACT acquires DRTX for $23/sh in cash + CVR:

http://finance.yahoo.com/news/actavis-acquire-durata-therapeutics-inc-120000538.html

…Actavis will commence a tender offer to acquire all of the outstanding shares of Durata common stock for $23.00 per share in cash, or approximately $675 million in the aggregate, and contingent value rights (CVRs) entitling the holder to receive additional cash payments of up to $5.00 per share if certain regulatory or commercial milestones related to Durata's lead product DALVANCE are achieved.

Excluding the CVR, the buyout premium is 66% and the nominal deal value is $675M.

DRTX’s Dalvance was the answer to an iHub quiz a few months ago (#msg-103497994).