Azur acquires drug in €30.8m deal

AZUR Pharma, the Dublin company set up by former Elan executive Seamus Mulligan, has acquire the schizophrenic treatment FazaClo.

This is the third acquisition by Azur since it was set up by Mr Mulligan in June 2005.

Buying FazaClo, a treatment for those with severe schizophrenia who fail to respond adequately to standard drugs, will cost Azur an initial $42 million (€30.8m) and up to $10m in 2009.