Leading pharmaceutical companies set to merge

BioSante and ANI Pharmaceuticals arrange special meetings for merger.

Established pharmaceutical companies BioSante and ANI Pharmaceuticals are set to hold special meetings next month (March 15th 2013) that will decide on key elements of the proposed merge between the two firms.

Both enterprises have decided upon the 17th January as the close-of-business date for the purpose of determining the stockholders who are entitled to vote on the issue, with the measure also subject to a variety of customary closing conditions.

BioSante will continue trading as the surviving company of the two, although the ANI management team will provide much of the leadership, with Arthur Przbyl serving as president and chief executive.

ANI stockholders will retain 53 per cent of the outstanding shares of common stock in the combined company, with their BioSante equivalents expected to take the remaining 47 per cent.

The merger is predicted to allow the two companies to continue operating in an ever-changing medical environment.