Opioid addiction implant
maker Braeburn Pharma pulls IPO
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[February 03, 2017]
(Reuters) - Braeburn Pharmaceuticals
Inc, the maker of the first long-acting implant to treat opioid
addiction in the United States, said on Thursday that it had decided not
to proceed with its initial public offering, citing current market
environment.
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The company, which filed to go public in late December, was expected
to offer about 7.7 million shares in the price range of $18-$21 per
share. http://bit.ly/2jAS1vV
This decision does not preclude Braeburn and its sole shareholder
Apple Tree Partners from considering an IPO or an alternative
financing in the future, the company said in an emailed statement.
The U.S. healthcare industry is facing considerable uncertainty.
President Donald Trump has accused drugmakers of "getting away with
murder" and vowed to repeal and replace Obamacare. He, however, has
promised to speed up approvals and ease regulations.
(Reporting by Natalie Grover in Bengaluru; Editing by Anil D'Silva)
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