Relypsa Acquired for $1.53Bn
News Jul 25, 2016
Galenica and Relypsa announce agreement for Galenica to acquire Relypsa.
Acquisition strengthens Galenica’s Business unit, Vifor Pharma – an important step towards becoming an independent specialty pharma company.
• Galenica will commence a tender offer to acquire all issued and outstanding Relypsa common stock for a cash consideration of USD 32 per share
• Implied fully-diluted equity value of the offer amounts to approximately USD 1.53 billion
• Acquisition affirms commitment of Galenica Board of Directors to separate the Galenica Group into two independent listed companies, partly financed by equity proceeds to be raised in conjunction with the envisaged division of the Galenica Group in 2017
• Transaction brings Vifor Pharma a dedicated US commercial organisation and global rights to Veltassa®, a potassium binder for the treatment of hyperkalaemia
• The Boards of Directors of both Relypsa and Galenica have approved the terms of the merger agreement, and the Board of Directors of Relypsa has resolved to recommend that shareholders accept the offer
Galenica Group announced that it has entered into a definitive agreement to acquire the US company Relypsa, Inc., further strengthening its Business unit Vifor Pharma by gaining full global rights to the potassium binder Veltassa® (patiromer) for oral suspension and enhancing its growing position as a global specialty pharmaceutical company. Under the terms of the merger agreement, Galenica will pay USD 32 per share in cash, or a total of approximately USD 1.53 billion. Through this acquisition, Vifor Pharma will gain a fully-integrated commercial organisation in the US and significantly strengthen its presence in the US cardio-renal market, a key area of focus.
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