Galen Holdings has announced that talks on a potential takeover of the company have ended.
The company this morning said preliminary talks on the deal had finished but did not say how they ended.
Last Thursday, the board of the company announced it was in discussions with an unnamed company and advised shareholders "to take no further action" until a further statement was issued.
However, it was reported last week that the company in the takeover bid was believed to be New Jersey-based generics drugmaker Barr Laboratories.
Barr, at the time, declined to comment on whether it was in talks with Galen, but analysts noted it would be a logical move for the US company, which has been building up a generic and branded franchise in the women's healthcare market - one of Galen's core areas.
Galen was trading at 10.00, down 0.09 at 11.45 a.m. on the ISEQ, and 607-1/2 pence on the FTSE - a fall of 97-1/2