Wholesale drug distributors announce agreement that calls for Cardinal to acquire all of Solomons stock in exchange for 849,364 Cardinal common shares, worth $23.5 mil. based on the stock price on March 11. Cardinal has 22.7 mil. shares fully diluted. The acquisition is expected to be completed by mid-April. Solomons' existing management will remain and the company will continue to operate as an independent entity. Savannah, Ga.-based Solomons serves Georgia, Florida, South Carolina and sections of adjoining states from its 98,000 square foot facility. Solomons has annualized revenues of about $180 mil.
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Advanz Pharma would have had to show that the European Commission’s decision to revoke Ocaliva’s conditional marketing approval risked causing serious and irreparable harm, according to lawyers from Van Bael & Bellis.
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A new pilot aims to take Brazil closer to ‘digital transformation.’
