Private equity group TPG agreed to buy out the pharma company for a premium of 37% over Friday’s closing price, deal valued at about $1.9 billion. PRX is a specialty pharmaceutical company that develops, manufactures and markets drugs that typically have a high barrier of entry. TPG, a private equity group with $51.5 billion in assets is known for its investments in the healthcare sector.
David Cornes holds a degree in economics from the University of Montana.