Actelion gets option to buy Trophos for up to $250M

Switzerland's Actelion has paid €10 million for an exclusive option to acquire France's Trophos, a private development company whose lead drug, olesoxime, is in Phase III testing as a therapy for Lou Gehrig's disease. Enrollment for the study has been completed, and data are expected at the end of 2011, at which time Actelion could bid between €125 and €195 million in cash for Trophos. The value of the deal will be determined on regulatory approvals and other...