Business news for Thu, 29 Nov 2007 & with word pharma. 5 news.

TPG Capital - a U.S. private equity firm - has struck a deal with Axcan Pharma to acquire the Quebec-based pharmaceutical company for $1.3 billion US.

BOSTON (MarketWatch) -- Drug stocks traded largely flat in early action Thursday as shares of MGI Pharma soared on news that it has retained Lehman Brothers to help it seek out strategic alternatives for the company.

Axcan Pharma, a Canadian pharmaceutical company specializing in treatments of gastrointestinal disorders, said Thursday that it will be acquired by TPG Capital for about $1.3 billion in cash. It is the latest in a string of smaller buyouts, since the summer’s credit market squeeze halted the mega-deals from earlier this year. The private equity firm, formerly [...]

TPG Capital agreed to pay $1.3 billion to acquire Axcan Pharma, a Canadian drug developer focused on gastrointestinal ailments.

BOSTON (MarketWatch) -- Drug stocks traded largely flat early action Thursday as shares of MGI Pharma jumped on news that it has retained Lehman Brothers to help it find a potential buyer. The Amex Pharmaceutical Index inched up 0.2% to 353.29 and the Amex Biotechnology Index was virtually flat at 819.64. Shares of MGI shot up 14% to $33.71.