Sector News

Drugmaker Actelion in ‘strategic transaction’ talks with ZS Pharma

September 11, 2015
Life sciences

(Reuters) – Switzerland-based drugmaker Actelion Ltd (ATLN.VX) said on Thursday it has initiated preliminary discussions with U.S. biotech company ZS Pharma Inc (ZSPH.O).

Bloomberg had reported earlier in the day that Actelion had offered to buy ZS Pharma last month in a deal valued at $2.5 billion.

Actelion and ZS Pharma both issued statements confirming that the two companies had held preliminary discussions, but did not specifically mention if the talks were related to a buyout.

ZS Pharma said the talks were “regarding a potential strategic transaction” and Actelion said the talks were “without any commitment on either party”.

ZS Pharma’s shares had spiked nearly 46 percent to touch a record high of $84.85 after the Bloomberg report. They closed up 28.4 percent, valuing the company at $1.9 billion.

San Mateo, California-based ZS Pharma’s lead experimental drug, ZS-9, is aimed at treating hyperalkemia, a build up of potassium in the body that could lead to heart failure.

The company filed a marketing application for ZS-9 with the U.S. Food and Drug Administration in May. The FDA is expected to issue a ruling on the application in May next year.

(Reporting by Vidya L Nathan in Bengaluru; Editing by Savio D’Souza)

comments closed

Related News

November 28, 2021

Founder-led biotech is making space for ideas—and diverse leaders—where it didn’t exist before

Life sciences

Decades ago, the founder-led biotech was rare and considered the tougher path to follow. Now there is a trend of founder-led biotechs that have risen in prominence in recent years, going from startup to well known with lightning speed. Scientists-turned C-suite occupants know their technology inside out. They’ve got credibility both at the bench working with their research teams and in the boardrooms selling their future products.

November 28, 2021

Pfizer to become $100B behemoth next year thanks to COVID-19 drug and vaccine: analyst

Life sciences

Pfizer’s revenue could reach $101.3 billion in 2022, with major contributions coming from the company’s BioNTech-partnered COVID vaccine and an antiviral therapeutic that has shown stellar clinical data, SVB Leerink analyst Geoffrey Porges projected in a Monday note to clients.

November 28, 2021

GlaxoSmithKline takes aim at sick pay access inequities with microgrant program and new campaign

Life sciences

In a survey commissioned by GlaxoSmithKline’s consumer health division of 2,000 working people in the U.S., almost 70% admitted to clocking in while sick, often because they couldn’t afford to lose a day’s pay. Black and Latina women were 10% more likely than white women to shun taking sick time for fear of fallout from their boss, according to the company’s 2021 Temperature Check Report.

Send this to a friend