Cubist Pharmaceuticals Inc. has completed its acquisition of drug maker Adolor Corp. for about $221 million. Yesterday, Lexington-based Cubist said it bought all of Exton, Pa.-based Adolor’s outstanding shares for $4.25 per share. Adolor shareholders will also receive up to an additional $4.50 per share if certain milestones are met in the development of a potential treatment for chronic opioid-induced constipation.
Cubist’s most recent tender offer expired Friday. At that time, about 43.3 million shares had been validly tendered, representing about 83 percent of Adolor’s outstanding shares. All of those shares were accepted for payment, the company said.
