Galenica buying Relypsa for $1.53 billion ahead of proposed split
Swiss pharmaceuticals wholesale group, Galenica Holding has acquired US biotech Relypsa (Nasdaq: RLYP) in a deal valued at more than $1.5 billion.
The acquisition has strengthened Galenica’s business unit, Vifor Pharma, and affirms the group’s commitment to separate into two independent listed companies. It brings to Vifor Pharma a dedicated US commercial organization and global rights to Veltassa (patiromer), a potassium binder for the treatment of hyperkalaemia.
The directors of both Relypsa and Galenica have approved the terms of the merger agreement, and the board of the former company has resolved to recommend that shareholders accept the offer.
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