Bayer struck an US$875 million deal to acquire British women’s health biotech Kandy Therapeutics, bolstering its pharmaceuticals division before patents expire on some key products.
The German drug and chemical company agreed to pay US$425 million upfront and potential milestone payments of US$450 million until the launch of Kandy’s experimental treatment for menopause symptoms, reported Bloomberg.
Kandy’s drug NT-814 is expected to start a final-stage clinical trial next year and could generate peak sales of €1 billion (US$1.17 billion) globally, Bayer said Tuesday, August 11, in a statement. Bayer rose as much as 1.8% in Frankfurt.
Full Content: Bloomberg