deals, Drugs, FDA

Hologic Grabs $82M for Drug

Rebecca Zacks 1/22/08

Medical technology megafirm Hologic (NASDAQ: HOLX), which develops diagnostics, imaging tools, and other devices focused on women’s healthcare, announced today that it will sell the rights to its drug Gestiva for $82 million in cash to St. Louis, MO-based KV Pharmaceutical. Bedford, MA-based Hologic acquired the rights to Gestiva, a treatment for the prevention of preterm birth, in its $6.2 billion merger with Cytyc back in the fall. Hologic won’t collect $82 million of the purchase price for Gestiva until the drug earns FDA approval.