Cardiome Pharma: Soars as Cipher agrees to buy Canadian business

Cipher Pharmaceuticals

20/03/2018 12:16

** U.S.-listed shares of Cardiome Pharma  CRME.O  rise 49.7
pct to $2.35 premarket; stock top percentage gainer  
    ** Cipher Pharmaceuticals Inc  CPH.TO  to buy Cardiome's
Canadian business for C$25.5 mln  ($19.53 mln), which will be
financed through a combination of cash and debt  urn:newsml:reuters.com:*:nPn12WMZHa
    ** CRME's gains set to wipe out losses from August when U.S.
FDA declined to accept re-submission of a marketing application
for CRME's heart drug, sending shares to a nine-month low
 urn:newsml:reuters.com:*:nL4N1L74AD
    ** Up to Monday's close, CRME stock has lost about 50 pct
over the past year


($1 = 1.3060 Canadian dollars)

 (Reporting by Tamara Mathias in Bengaluru)
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