Ipsen to acquire Epizyme, expanding its portfolio in oncology
French drugmaker Ipsen (Euronext: IPN) this morning announced it is to acquire US epigenetic therapies firm Epizyme (Nasdaq: EPZM) in order to expand its oncology portfolio.
The transaction was unanimously approved by both Ipsen and Epizyme boards of directors and is anticipated to close by the end of the third quarter of 2022, subject to the satisfaction of all closing conditions. Epizyme is a fully integrated, commercial-stage biopharmaceutical company developing and delivering transformative therapies against novel epigenetic targets for cancer patients.
Ipsen, whose shares dipped just over 3% to 85.10 euros in early trading, is facing increasing competition for its aging oncology med Somatuline (lanreotide), a key earner for the company and its only blockbuster product. Epizyme shares rose 50% to $1.43 pre-market.
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