BASF Extends Offer Period for Omega-3 Firm Pronova to Jan 18

January 2, 2013

Pronova BioPharma owns the patent to omega-3 cardiovascular drug Lovaza.

BASF (Frankfurt) has extended the deadline for its offer to acquire Pronova BioPharma (Lysaker, Norway), which owns the patent to omega-3 cardiovascular drug Lovaza, to January 18, 2013. BASF says it expects to close the offer in the first quarter of 2013 and that Pronova’s board of directors and management unanimously support BASF’s offer and are recommending it be accepted.

The extended deadline is for BASF to acquire any outstanding shares of Pronova. BASF says it so far has received acceptances for approximately 67.2% of shares.