1. Scrip
  2. >>Business

Another UK Biotech Snapped Up As Neurocrine Buys Diurnal

US Firm Paying Just £48m

 
• By Kevin Grogan

Lack of scale, the need for further funding and problems getting reimbursement for its adrenal insufficiency products left the Wales-headquartered firm vulnerable to a takeover and San Diego's Neurocrine has swooped.

A pair of feet standing on a tarmac road with yellow arrow print pointing in three different directions for the concept of making decision at the crossroad.
Diurnal plumps for the takeover route • Source: Archive

Diurnal Group PLC's dream to remain independent and become a fully integrated firm has failed to materialize, with the UK biotech being bought by Neurocrine Biosciences, Inc. of the US for £48.3m ($56.7m).

Neurocrine is offering 27.5 pence a share, which represents a 141% premium to the closing price on 26 August

Read the full article – start your free trial today!

Join thousands of industry professionals who rely on Scrip for daily insights

  • Start your 7-day free trial
  • Explore trusted news, analysis, and insights
  • Access comprehensive global coverage
  • Enjoy instant access – no credit card required
Start Free Trial

Already a subscriber?

More from Deals

More from Business

Azafaros Banks Over €130m To Advance Nizubaglustat Into Phase III

 
• By Kevin Grogan

The therapy has been developed for GM1 and GM2 gangliosidoses and Niemann-Pick disease type C.

Roche Reveals Another US Manufacturing Site As Tariff Pressures Seem To Ease

 
• By Mandy Jackson

Roche/Genentech unveiled plans for a $700m-plus manufacturing facility for weight loss drugs in North Carolina as President Trump signaled such investments could mean no tariffs for pharma.

Trump’s MFN Executive Order More Rhetoric Than Action

 
• By Jessica Merrill

The details of Trump’s latest executive order on drug pricing are vague and the president put more blame on other countries and pharma distributors than drug companies.