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Clementia Pharmaceuticals Soars After Deal to Be Bought by France's Ipsen

Joseph Woelfel

French healthcare company Ipsen agreed to buy Clementia Pharmaceuticals Inc. Ipsen said it would pay $25 a share in cash initially for Clementia, plus a contingent value right of $6 a share upon Food and Drug Administration approval of Clementia's palovarotene drug for the treatment of multiple osteochondromas, a rare bone disorder. The companies said the initial cash consideration represents a premium of 77% to Clementia's 30-day volume-weighted average stock price.