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Actelion buys U.S.-based firm with cancer drug in development

A general view shows Swiss biotech group Actelion Headquarters in Allschwil near Basel, April 23, 2011. REUTERS/Christian Hartmann
A general view shows Swiss biotech group Actelion Headquarters in Allschwil near Basel, April 23, 2011. REUTERS/Christian Hartmann

ZURICH (Reuters) - Actelion said it will acquire Ceptaris, a privately held U.S.-based specialty pharmaceutical company developing a topical drug, Valchlor, to treat a form of cancer.

Allschwil-based Actelion said it already paid Ceptaris $25 million and will pay another $225 million when the deal closes. The deal is contingent on Valchlor clinching approval from the U.S. health regulator.

"We expect the transaction to become cash-accretive before the end of 2014," Actelion executive Nicholas Franco said in a statement on Wednesday.

(Reporting By Katharina Bart)

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