August 28, 2018 / 9:03 PM / 22 days ago

Emergent BioSolutions to buy Adapt Pharma for up to $735 mln

Aug 28 (Reuters) - Emergent BioSolutions Inc said on Tuesday it would buy privately held Adapt Pharma for up to $735 million to acquire its drug Narcan, the only needle-free emergency treatment approved to treat opioid overdose.

The deal comprises an upfront cash-and-stock payment of $635 million and up to $100 million in cash dependent on sales-based milestones through 2022, Emergent said.

Opioid overdoses killed over 70,000 people last year, according to here the U.S. Centers For Disease Control And Prevention.

Reporting by Tamara Mathias in Bengaluru; Editing by Sriraj Kalluvila

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