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Endo International plc
Drug Names(s): PRO 2000
Description: PRO 2000 is a synthetic, long-chain, naphthalene sulfonic acid polymer. It is a topically administered, vaginal microbicide designed to prevent infection by the human immunodeficiency virus (HIV) that causes AIDS. PRO 2000 disrupts the initial binding and membrane fusion steps of HIV-1 infection. PRO 2000 binds to CD4 with nanomolar affinity and blocks CD4 binding to HIV gp120. It inhibits infection by a wide range of HIV isolates in a variety of cell types.
Deal Structure: In January 2009, Endo Pharmaceuticals and Indevus Pharmaceuticals announced that they have entered into a merger agreement under which Endo will commence a tender offer to acquire 100 percent of the outstanding shares of Indevus for approximately $370 million, or $4.50 per Indevus share, in cash, and up to an additional approximately $267 million, or $3.00 per Indevus share, in cash payable in the future upon achievement of certain regulatory and sales milestones.
In February 2009, Endo Pharmaceuticals announced the completion of the tender offer by its wholly owned subsidiary, BTB Purchaser, for all of the outstanding shares of common stock of Indevus Pharmaceuticals. American Stock Transfer & Trust Company, the depositary for the tender offer, has advised Endo that, as of 5:00 p.m., New York City time, on February 20, 2009, the initial expiration of the tender offer, approximately 61,358,944 shares were validly tendered and not withdrawn in the tender offer, representing...See full deal structure in Biomedtracker
PRO 2000 News
Pink Sheet HIV microbicide
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