Actavis bets $675M-plus on Durata and its antibiotic Dalvance

Actavis ($ACT) snapped up Durata Therapeutics ($DRTX) and its IV antibiotic for skin infections, Dalvance, in a bid to expand its infectious disease portfolio. U.S.-based Actavis will shell out $675 million in cash up front, or $23 per share, plus up to $5 per share in sales milestone payments. Release