AstraZeneca Made $10 Billion Bid for Obesity Drugmaker Rhythm, WSJ Reports
The bid would expand AstraZeneca’s rare-disease portfolio and give it a foothold in the fast-growing obesity market, the report said.
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AstraZeneca would have offered up to $10 billion for Rhythm Pharmaceuticals, a company with therapies for rare forms of obesity. The proposal, which would include milestone payments and is not yet binding, was followed by an increase in Rhythm’s shares and could expand the reach of Alexion, AstraZeneca’s rare disease business.
Pharmaceutical group Astra Zeneca has made a bid equivalent to SEK 97 billion for US-listed company Rhythm Pharmaceuticals, sources tell the Wall Street Journal (WSJ). According to the information, Astra Zeneca made the bid of USD 10 billion in October. This means a payment of USD 124 per share in Rhythm – which specializes in treatments for metabolic diseases and severe obesity. Since the information about the bid was published, Rhythm's share …
Astra Zeneca has recently made a bid equivalent to SEK 97 billion for US-listed Rhythm Pharmaceuticals, according to sources to WSJ.
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