Belgian pharmaceutical company UCB SA agreed to buy Zogenix Inc., a U.S. maker of drugs to treat seizures and rare diseases, for as much as $1.9 billion, expanding its portfolio to treat epilepsy.
Investors will get $26 in cash for every Zogenix share, plus a potential $2 per share payment if the U.S. company’s Fintepla drug gets regulatory approval for Lennox-Gastaut syndrome by the end of 2023, UCB said Wednesday. The initial payment is 66% higher than Tuesday’s closing price.
