Swedish Orphan Biovitrum to acquire CTI BioPharma in a $1.7 billion deal
Swedish Orphan Biovitrum AB SE:SOBI on Wednesday announced that it has entered into an agreement to acquire U.S.-based CTI BioPharma Corp.
in a deal valued at $1.7 billion. The Stockholm-based drugmaker said it will offer $9.10 for each share of CTI, which focuses on blood-related cancers and rare diseases. The offer represents a premium of 88.8% over CTI’s the Tuesday closing price of $4.82 per share. “CTI represents a perfect fit for Sobi’s haematology franchise today, adding a powerful and highly differentiated new product that will make a significant difference for patients”, said Guido Oelkers, president and...
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