Ipsen, S.A. and Tercica have entered into a definitive merger agreement under which an affiliate of Ipsen will acquire all outstanding shares (approximately 43%) of Tercica for approximately $663 million in cash. This transaction, which is subject to approval by Tercica stockholders, has been approved by Tercica's board of directors.

"The combination of Ipsen's and Tercica's development and product portfolios provides the opportunity to create a leading global endocrinology company," said John A. Scarlett, M.D., chief executive officer of Tercica. "We believe this transaction recognizes the value we have created at Tercica and provides our stockholders with attractive financial terms."

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