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

March 24, 2024

Johnson Matthey to sell its Medical Devices business for $700 million

Life sciences

Johnson Matthey Plc (JM; London) announced that it has signed a definitive agreement to sell 100% of its Medical Device Components business (MDC) to Montagu Private Equity (Montagu) for cash consideration of US$700 million (£550 million) on a cash free debt free basis.

March 24, 2024

Lonza acquires biologics manufacturing plant in California from Roche

Life sciences

Lonza AG (Basel, Switzerland) announced it has signed an agreement to acquire the Genentech large-scale biologics manufacturing site in Vacaville, Calif. from Roche (Basel, Switzerland) for $1.2 billion. The acquisition will significantly increase Lonza’s large-scale biologics manufacturing capacity.

March 24, 2024

Roquette to acquire IFF Pharma Solutions to boost global excipient presence

Life sciences

Roquette plans to acquire International Flavors & Fragrances (IFF) Pharma Solutions for an enterprise value of up to €2.85 billion (US$3.09 billion). With the acquisition set to close in the first half of 2025, the plant-based ingredient and pharmaceutical excipients supplier aims to reinforce its position in the pharmaceutical industry.

How can we help you?

We're easy to reach