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Menarini Seals Stemline Merger

Was Not The Only Bidder

 
• By Kevin Grogan

The purchase gives the Italian firm ownership of the blood cancer therapy Elzonris which is already approved in the US and attracted the attention of another potential acquirer before Menarini clinched the deal to buy Stemline. 

Menarini Group
All smiles: CEO Elcin Barker Ergun (second left) and board members • Source: Menarini

Just over a month after the deal was announced, Menarini Group has closed its acquisition of Stemline Therapeutics Inc., giving the privately owned Italian group a foothold in the US oncology market with the already-approved blood cancer drug Elzonris.

The deal is valued at up to $677m, which represents a hefty 163% premium to Stemline's closing share price on 1 May via an upfront cash payment of $11.50 per...

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