September 2, 2009 / 5:55 PM / 8 years ago

UPDATE 1-Dainippon Sumitomo to bid for Sepracor - Nikkei

Sept 3 (Reuters) - Japan’s Dainippon Sumitomo Pharma Co Ltd (4506.T) plans to launch a bid to acquire Sepracor Inc SEPR.O for about 250 billion yen ($2.70 billion), the Nikkei business daily said.

Shares of Marlborough, Massachusetts-based Sepracor jumped as much as 30 percent to $23.37 Wednesday on Nasdaq.

The move is intended to boost Dainippon Sumitomo Pharma’s lineup of central nervous system and other drugs, the paper said without citing sources.

Sepracor officials were not immediately available for comment.

    Funding for the purchase will come from sources including cash on hand and loans, the Nikkei said.

    For the alerts, double-click [ID:nWNAB6130] ($1=92.54 Yen) (Reporting by Anand Basu in Bangalore; Editing by Anthony Kurian)

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