BAXTER INTERNATIONAL INC acquired Prism Pharmaceuticals, Inc. for up to $338M, a transaction announced in April 2011, structured as All-cash acquisition with upfront payment plus sales-based milestone payments; expected to close in Q2 2011 subject to Hart-Scott-Rodino clearance.
Prism Pharmaceuticals, Inc. operates in Medical Products, is based in King of Prussia, Pennsylvania, United States. Baxter entered into a definitive agreement to acquire privately held Prism Pharmaceuticals, a specialty pharmaceutical company based in King of Prussia, Pennsylvania. Prism had developed and won FDA approval for multiple presentations of NEXTERONE (amiodarone HCl), an antiarrhythmic agent, including the first and only ready-to-use premixed IV bag formulations plus vials and a pre-filled syringe, none containing polysorbate 80 or benzyl alcohol. Baxter had previously been the contract manufacturer selected by Prism to produce the premixed IV bags using Baxter's GALAXY container technology.
Added the FDA-approved NEXTERONE premix drug portfolio to Baxter's leading portfolio of premixed drugs and solutions for the acute care setting, offering ready-to-use formulations that reduce compounding-related medication errors.
Advisory firms were not disclosed for this transaction.