U.S. Markets closed

[$$] Ipsen to Buy Canada's Clementia Pharmaceuticals

Ipsen said it would initially pay $25 a share in cash for Clementia, and a further $6 a share contingent on Clementia’s palovarotene drug receiving FDA approval for the treatment of a rare bone disorder. The deal will boost Ipsen’s participation in the treatment of rare diseases and bulk up its pipeline of future treatments, the company said. Ipsen will finance the transaction through existing cash and credit lines, which will significantly increase its net debt and have a dilutive effect on net income and operating margins.