Management Helped Facilitate 13 Combined Buyouts
We always stress about the importance of strong management. A common saying among successful investors is, "You don't invest in a company, you invest in its people." We believe this is one of the most important tenants of investing and always look for small-cap companies with experienced management.
AcelRx has assembled a management team that has extensive experience in managing small-cap biotech companies. This team of management and board of directors have led small cap companies into profitability, and many into buyouts. In fact, the management team has been involved in thirteen different acquisitions. Below are the most notable members and their respective acquisition activity:
Adrian Adams, Chairman of the Board
1. Sold Inspire Pharmaceuticals to Merck & Co. (NYSE:MRK): Mr. Adams served as President and Chief Executive Officer of Inspire Pharmaceuticals, Inc. Merck bought out Inspire for $430M, or a 26% premium over the current share price.
2. Sold Sepracor to Dainippon Sumitomo: Mr. Adams served as President and Chief Executive Officer of Sepracor Inc. Dainippon Sumitomo bought out Sepracor for $2.6B, or a 48% premium over the current share price.
3. Sold Kos Pharmaceuticals to Abbott Laboratories (NYSE:ABT): Mr. Adams served as the President and Chief Executive Officer of Kos Pharmaceuticals, Inc. Abbott Laboratories bought out Kos Pharmaceuticals for $78 a share, or a 56% premium over the current share price.
Richard King, President And CEO
4. Sold Tercica to Ipsen: Mr. King served as President and General Manager of Tercica. Ipsen bought out Tercica for $404M, or a 104% premium over the current stock price.
5. Sold Kos Pharmaceuticals to Abbott Laboratories: Mr. King served as Executive Vice President of Commercial Operations of Kos Pharmaceuticals, Inc. See above section for details on that buyout.
6. Sold Solvay Pharmaceuticals to Abbott Laboratories: Mr. King served as Senior Vice President of Commer