Javelin Pharmaceuticals Inc (JAV)

[surf1944]

8:17AM Javelin Pharmaceutic to be acquired by Myriad Pharmaceuticals (MYRX) (JAV) 1.23 : Myriad Pharmaceuticals (MYRX) announces it has entered into a definitive agreement to acquire Javelin Pharmaceuticals (JAV). The acquisition augments Myriad's portfolio of product candidates with Dyloject, a New Drug Application (NDA)-submitted candidate with the potential, based on its safety and efficacy profile, to become a valuable addition to hospital formularies as an injectable NSAID for the multimodal management of moderate-to-severe postoperative pain. Under the Agreement and Plan of Merger, Myriad Pharmaceuticals will acquire all of the outstanding shares of Javelin common stock in exchange for Myriad Pharmaceuticals stock, resulting in the Javelin stockholders owning approximately 41% of the combined company immediately after the closing. The ownership interest of Javelin shareholders may increase up to a maximum of approximately 45% depending upon the timing of FDA approval of Javelin's lead drug candidate Dyloject.