Neurocrine, a research-based pharmaceutical company, completed the acquisition of Diurnal, a specialty pharmaceutical company, for $56m. "The Board of Diurnal is delighted to announce this recommended offer for Diurnal. Diurnal and Neurocrine are highly complementary businesses, and we believe that Neurocrine's financial and operational resources will substantially accelerate the development of a leading franchise in diseases of cortisol deficiency, benefiting physicians and patients globally. We believe that the acquisition is compelling for Diurnal's shareholders given the risks associated with achieving Diurnal's vision of creating a profitable business, in particular the ongoing commercial roll out of Diurnal's products in Europe and the execution of key clinical studies, in addition to the substantial shareholder dilution that is likely to result from accessing the capital required to deliver this vision," Anders Härfstrand, Diurnal Non-Executive Chairman.