Deals
Japan’s Otsuka to Buy Avanir Pharma for $3.5 Billion
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Otsuka Holdings Co. agreed to buy California-based Avanir Pharmaceuticals Inc. for about $3.54 billion, a deal that gives the Japanese company new treatments for neurological conditions.
Tokyo-based Otsuka will pay $17 a share, it said in a stock exchange statement today. That’s 13 percent higher than Avanir’s closing price of $15 yesterday.