Shares in American clinical-stage biopharmaceutical company 89bio rocketed in pre-market trade on Thursday after Swiss pharma giant Roche struck a deal to buy the outfit for up to $3.5bn.<\/p>\n
Known for its innovative therapies for the treatment of liver and cardiometabolic diseases, 89bio’s pegozafermin product is seen as a “best-in-disease treatment” for moderate to severe Metabolic Dysfunction-Associated Steatohepatitis (MASH) \u2013 one of the most prevalent comorbidities of obesity.<\/p>\n
According to Roche, the deal strengthens its presence in the cardiovascular, renal, and metabolic diseases (CVRM) market, \u2013 especially for patients affected by overweight, obesity and related health challenges \u2013 as well as offering “optionality for future combination development”. <\/p>\n
Roche is buying 89bio for $14.50 a share, representing an equity value of $2.4bn, though stockholders will also receive a non-tradeable contingent value right for up to an aggregate of $6.00 per share in cash, representing a total deal value of up to $3.5bn.<\/p>\n
89bio, which closed Wednesday’s session at $8.08, was up 84% pre-market at $14.84 by 0638 in New York, while Roche gained 0.2% to CHF261 in Zurich.<\/p>\n
\u201cThis acquisition further strengthens our portfolio in cardiovascular, renal, and metabolic diseases and offers opportunities to explore combinations with existing programmes in our pipeline,\u201d said Thomas Schinecker, Roche’s chief executive. <\/p>\n
\u201cWe are highly encouraged by pegozafermin\u2019s potential to become a transformative treatment option in MASH, one of the most prevalent comorbidities of obesity, and to meet diverse patient needs associated with this complex disease.”<\/p>\n","protected":false},"excerpt":{"rendered":"Shares in American clinical-stage biopharmaceutical company 89bio rocketed in pre-market trade on Thursday after Swiss pharma giant Roche…\n","protected":false},"author":2,"featured_media":12151,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[124],"tags":[16592,4166,1971,1973,9012,1975,1974,12030,134],"class_list":{"0":"post-27240","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-roche","8":"tag-3-5bn","9":"tag-89bio","10":"tag-categoryall","11":"tag-categorycompany-news","12":"tag-categoryinternational-companies","13":"tag-categoryma","14":"tag-categorynews-and-announcements","15":"tag-nasdaq-listed","16":"tag-roche"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@ch\/116188136229702616","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/posts\/27240","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/comments?post=27240"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/posts\/27240\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/media\/12151"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/media?parent=27240"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/categories?post=27240"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/tags?post=27240"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}