Séamus Mulligan, the chairman and chief executive of Adapt Pharma, has been chosen as The Irish Times Business Person of the Month for August, an award run in association with KPMG. Adapt agreed a deal in August that will see it taken over by a US company, Emergent, that specialises in public health threats. Emergent is paying $635 million up front for the business - $575 million in cash and the balance in shares. Mulligan, who owns around 80 per cent of the tightly-held company, could benefit further under an additional payment of $100 million if Narcan meets sales targets. Adapt’s success was based on the drug delivery know how that Mulligan and others developed originally with Elan.

Source: The Irish Times September 07, 2018 04:30 UTC