December 19, 2013 / 10:07 PM / 4 years ago

Jazz Pharma to buy Italy's Gentium for $1 bln

Dec 19 (Reuters) - Ireland-based Jazz Pharmaceuticals Plc said it would buy Italian biotech company Gentium S.p.A. for about $1 billion to get access to Defitelio, a drug used for the treatment of a rare liver condition.

The $57 per-share deal is at a premium of 2.4 percent over Gentium’s Thursday close of $55.65 on the Nasdaq.

In October, the European Commission granted marketing authorization for Defitelio, which is the first drug approved for hepatic veno-occlusive disease (VOD), a rare condition in which some veins in the liver are blocked as a result of cancer therapy given prior to stem cell transplants.

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