Teva Pharmaceutical Industries Ltd. (NYSE: TEVA) is buying MicroDose Therapeutx for as much as $165 million.
MicroDose, headquartered in Monmouth Junction, N.J., develops inhalation technologies and products for lung diseases and infections. Terms of the deal were not disclosed.
The deal allows Teva to expand its respiratory pipeline. The Jerusalem-based buyer develops generic drugs and specialty pharmaceuticals.
The company will pay $40 million upon the deal closing, plus additional payments of up to $125 million depending on development milestones.
Chris Schmitt, Christina Tate, Ira Schreger, Margaret Sampson, David Peck, Shane Tucker, Sean Becker and Billy Vigdor from law firm Vinson & Elkins advised Teva on the transaction.
Other recent pharmaceutical deals include AstraZeneca’s Pearl Therapeutics Inc. buy, Salix Pharmaceutical Ltd.’s (Nasdaq: SLXP) acquisition of intellectual property related to a liver disease treatment medication, and Novo A/S’ acquisition of Xellia Pharmaceuticals.