Henderson, Nev.-based Spectrum (Nasdaq: SPPI) paid $194.1 million for the outstanding shares of Westminster-based Allos.
The deal was first proposed in April. Spectrum twice extended its tender offer for shares as the Federal Trade Commission examined the transaction to see if it raised antitrust issues.
The FTC approved the merger last week. Spectrum finished its tender offer for shares Tuesday.
Paul Berns, Allos CEO president, and other Allos executives resigned Wednesday to complete the merger and Spectrum’s takeover of the company.
Allos and Nasdaq also took steps to remove its ticker symbol (Nasdaq: ALTH).
The company had about 190 employees in early 2011. It’s not clear how many were still there when the merger went through.
Allos developed and sells the non-Hodgkin’s lymphoma drug Folotyn, a treatment for a relatively rare peripheral T-cell lymphoma (PTCL), meant for patients for whom other treatments have failed.
Allos reported making $20.7 million in revenue from Folotyn sales in the first six months of 2012, down slightly from the $21.8 million in the first six months of 2011.
Spectrum sells the drug Zevalin, a treatment for a different kind of non-Hodgkin’s lymphoma. Spectrum saw opportunity in acquiring Folotyn because it’s prescribed by the same doctors that prescribe Zevalin.
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