BioMarin Pharmaceutical Inc. (BMRN) said it reached a stock purchase agreement to buy LEAD Therapeutics, Inc., a private drug discovery and early stage development company. Under the terms of the stock purchase agreement, BioMarin would pay to the stockholders of LEAD $18 million upfront and would pay an additional $11 million upon acceptance of the IND filing, and up to $68 million for development and launch milestones for LT-673. As a result of the deal, BioMarin expects to incur approximately $11.0 to $13.0 million in operating expenses and acquisition related charges in 2010. The acquisition is expected to be completed by mid-February 2010.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.