leisure time
LONDON — Seeking to build up its pharma business, the Japanese conglomerate Asahi Kasei is moving to buy Swedish biotech Calliditas Therapeutics in a nearly $1.1 billion cash deal, the companies said Tuesday.
The firm’s offer of $19.68 per share amounts to an 83% premium versus Calliditas’ closing price on a Swedish exchange Monday. The Calliditas board has unanimously recommended that shareholders accept the offer, the company said, adding that it “aims to realize the benefits of being part of a larger platform” by being acquired.
advertisement
Calliditas has an approved drug on the U.S. market called Tarpeyo, which treats a kidney disease called IgA nephropathy. The condition has in recent years attracted interest from a number of pharma companies.
STAT+ Exclusive Story
Already have an account? Log in
This article is exclusive to STAT+ subscribers
Unlock this article — plus daily coverage and analysis of the biotech sector — by subscribing to STAT+.
Already have an account? Log in
Already have an account? Log in
Monthly
$39
Totals $468 per year
$39/month Get StartedTotals $468 per year
Starter
$30
for 3 months, then $39/month
$30 for 3 months Get StartedThen $39/month
Annual
$399
Save 15%
$399/year Get StartedSave 15%
11+ Users
Custom
Savings start at 25%!
Request A Quote Request A QuoteSavings start at 25%!
2-10 Users
$300
Annually per user
$300/year Get Started$300 Annually per user
View All Plans
Get unlimited access to award-winning journalism and exclusive events.
Subscribe Log InNext article： How one medical school became remarkably diverse
