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Alnylam Pharmaceuticals, a biopharmaceutical company headquartered in Cambridge, Mass, has named Michael Bonney as Chairman to replace John Clarke who stepped down after 13 years of service. Clarke will remain on the board as a director of the company. Bonny is the current board member and former CEO of Cubist Pharmaceuticals.
Allergan today (23/1/13) said that it would buy US based MAP Pharmaceuticals in a $958m acquisition. Allergan is purchasing MAP Pharmaceuticals in cash and has paid a 60% premium on the closing share price of MAP. Allergan expects the deal to dilute 2013 earnings by about 7 cents a share and begin to add revenue in H2 2014. The purchase follows on from a collaboration agreement Allergan and MAP made in January 2011 to co-promote Levadex in the US and Canada.