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.
UPSHER-SMITH LABORATORIES INC.
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
2011 sales: $451 million
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