January 22, 2008
Hologic Sells Off Cytyc Drug Rights For $82M
By Matthew L. Brown
Hologic Inc. of Bedford, which bought Marlborough-based Cytyc Corp. in October, has reached an agreement to sell the rights to a premature birth prevention drug made by a Cytyc subsidiary for $82 million in cash.
The sale depends on the approval of the drug, Gestiva, by the U.S. Food and Drug Administration.
Under the agreement, the rights to the drug Gestiva would be sold to KV Pharmaceutical Co. of St. Louis, Mo. The drug is made by Adeza Biomedical Corp., which was acquired by Cytyc in April.
Hologic acquired Cytyc in October for $6.2 billion. The company makes medical diagnostic and imaging systems for the women's health industry.
The sale depends on the approval of the drug, Gestiva, by the U.S. Food and Drug Administration.
Under the agreement, the rights to the drug Gestiva would be sold to KV Pharmaceutical Co. of St. Louis, Mo. The drug is made by Adeza Biomedical Corp., which was acquired by Cytyc in April.
Hologic acquired Cytyc in October for $6.2 billion. The company makes medical diagnostic and imaging systems for the women's health industry.
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