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Gilead Sciences, Inc.
Drug Names(s): CVT-510
Description: Tecadenoson is an intravenous compound that selectively stimulates the A1 adenosine receptor. Stimulation of the A1 adenosine receptor slows the conduction of electrical impulses in the AV node of the heart, a region that controls the transmission of electrical impulses from the atria to the ventricles. Adenosine is a naturally occurring compound that stimulates all adenosine receptor subtypes in the body, including the A2 adenosine receptor which lowers blood pressure.
Deal Structure: Tecadenoson was originally developed by CV Therapeutics.
In January 2009, Astellas Pharma announced that it submitted a proposal to the Board of Directors of CV Therapeutics to acquire all outstanding common shares of CV Therapeutics for $16.00 per share in cash.
In March 2009, Gilead Sciences and CV Therapeutics announced the signing of a definitive agreement pursuant to which Gilead will acquire CV Therapeutics for $20.00 per share in cash through a tender offer and second step merger. The acquisition was completed in April 2009.
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