- Cipher Pharmaceuticals (CPHR +15.1%) acquires privately-held Innocutis Holdings LLC for $45.5M in cash. The dermatology firm posted more than $10M in sales in 2014. Cipher expects the deal to be accretive to earnings within two years.
- Cipher President & CEO Joe Pecora says, "Today's transaction marks or commercial entry to the U.S. market and represents an important step toward our goal of creating a leading North American dermatology business. Innocutis provides us with commercial infrastructure, revenue-generating branded prescription products and a talented team, including a 31-person sales force, that shares our customer-focused philosophy."