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Sepracor says seeking drug development partner

Tue Oct 28, 2008 9:59am EDT

BOSTON, Oct. 28 (Reuters) - Sepracor Inc SEPR.O said on Tuesday that it is seeking a partner, preferably one that is outside the United States, to help develop some of its experimental drugs.

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Sepracor executives said on a conference call with investors that it is also looking to acquire or license new products from others.

"We continue to assess the potential for opportunistic M&A opportunities to give us the opportunity to leverage the organization," said Adrian Adams, the company's chief executive officer.

Sepracor, which makes the insomnia drug Lunesta, saw its shares rise 2.4 percent in early trading to $11.75 on Nasdaq. (Reporting by Toni Clarke, editing by Gerald E. McCormick)

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