More than $11 billion at stake in Arrowhead and Sarepta deal
US companies Arrowhead Pharmaceuticals (Nasdaq: ARWR) and Sarepta Therapeutics (Nasdaq: SRPT) have announced a global licensing and collaboration agreement.
Shares in Arrowhead were 17% higher early on Tuesday following the announcement, while those in Sarepta were up by 10%.
Given the sums involved, it is not surprising that Arrowhead shares were on the up. The Californian company will receive $825 million, consisting of $500 million cash and $325 million as an equity investment priced at a 35% premium, as well as $250 million to be paid in equal instalments over five years.
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