Transatlantic pharmaceutical deal

Upsher-Smith Laboratories Inc. announced an agreement to acquire Proximagen Group PLC, a London-based development-stage drug company in a deal valued at $346.7 million. The deal's value could increase to $554.7 million depending on commercialization prospects of two new Proximagen drugs.

Headquarters: Maple Grove

Founded: 1919

Chairman: Ken Evenstad

President and CEO: Mark Evenstad

Business: Family-owned and privately held specialty pharmaceutical company focuses on innovative uses of generic and branded-generic drugs, especially drugs treating disorders of the central nervous system.

Employees: 600

Headquarters: London

Nonexecutive chairman: Peter Allen

CEO: Kenneth Mulvany

2011 sales: $281,000

2011 earnings: $7.9 million