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Article: Eurand Raises $112M In IPO For Internal, Collaborative Programs.
- Article from:
- BIOWORLD Today
- Article date:
- November 3, 2009
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Staff Writer
Italian firm Eurand priced its initial public offering, grossing $112 million through the sale of 7 million shares at $16 apiece.
The Milan-based company, incorporated in the Netherlands, had revenues of $109 million in 2006, primarily from products sold by others that use its formulation technologies. Eurand said its licensees market more than 40 different products that use its technologies, generating $92 million of last year's revenue total. Eurand also is developing its own products, with the lead candidate, EUR-1008, having completed two Phase III trials for treatment of exocrine pancreatic insufficiency.
The company, founded ...