Clovis acquires Italian biopharma company

BOULDER – Clovis Oncology Inc. paid $200 million to buy an Italian biopharmaceutical company that’s developing a drug to treat cancer.

Boulder-based Clovis (Nasdaq: CLVS) paid $190 million in stock and $10 million in cash to acquire EOS (Ethical Oncology Science) S.p.A., the Italian company, according to a press statement from Clovis.

Clovis also plans to pay an additional $65 million to EOS when the cancer-treatment drug candidate – named lucitanib – is approved by the U.S. Food and Drug Administration. The FDA must approve all drugs sold in the United States, a process of research and clinical trials that can take…