PDL BioPharma sets sights on new acquisition

PDL BioPharma, Inc., of Incline Village, has submitted a proposal to acquire Neos Therapeutics, Inc., for $10.25 per share. PDL, a company that acquires and manages a portfolio of companies, products royalties and debt in the biotech, pharmaceutical and medical device industries, sees the acquisition as a logical step in its strategic plan that would create an attractive pediatric platform and foundation for future growth. Neos, headquartered in Grand Prairie, Texas, develops, manufactures, and commercializes extended-release products by utilizing technology platforms. PLD first approached Neos in June. The PDL proposal will remain outstanding for a period of 14 days. The proposal does not create any binding obligation on Neos, PDL or any of their respective affiliates.


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