Allergen completes EndoArt buyout |
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Published
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Thu, 22 Feb 2007 17:29
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IRVINE, Calif. (AP) - Drug developer Allergen Inc. said Thursday it completed the $97 million buyout of Swiss medical technology developer EndoArt SA.The company said it will the buyout will not change its guidance for 2007. Estimates of costs from the deal will be provided in Allergen's first-quarter earnings release and the majority of the price will be expensed as research and development costs, the company said.The buyout gives Allergen the FloWatch technology platform, used with the EasyBand remote adjustable gastric band system to treat morbid obesity.Shares of Allergen fell 26 cents to $113.17 on the New York Stock Exchange in morning trading.Copyright 2006 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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