UCB has completed its $1.9 billion acquisition of biopharmaceutical company Zogenix. UCB paid $26 per share and will pay another $2 per share, subject to the approval of FINTEPLA, a drug to treat Lennox-Gasto syndrome, by Dec. 31, 2023.

UCB is buying biopharmaceutical company Zogenix for $1.9 billion. Under the terms of the agreement, UCB will make a tender offer to buy all of Zogenix's outstanding shares at $26 per share plus $2 per share, subject to approval of FINTEPLA, the drug to treat Lennox-Gasto syndrome, by December 31, 2023. The transaction is expected to close in Q2 2022.

Zogenix reported a GAAP loss of $172.53 million for 9M 2021, up 23.9% from $139.213 million in the previous year. Revenues increased 10.7 times to $55.082 million from $5.141 million a year earlier.

Zogenix's FINTEPLA has been granted orphan drug status in Japan. FINTEPLA is used in the U.S. and Europe to treat seizures caused by Dravet syndrome, a rare form of epilepsy. In Japan, the company plans to file a J-NDA application later this year. If approved, the drug will be distributed in the country under an exclusive distribution agreement with Nippon S...