Roche to boost hep C offerings with $230 million acquisition of Anadys Pharma

In a further move to broaden in presence outside its current domination in the oncology sector, Swiss drug major Roche (ROG: SIX) said yesterday that it has signed a definitive merger agreement to fully acquire California based Anadys Pharmaceuticals (Nasdaq: ANDS) for $230 million, or $3.70 per share, in cash. The offer price represents a 256% premium to the closing price on October 14, 2011.

Anadys develops oral, small molecule therapeutics for the potential treatment of hepatitis C virus (HCV) infection. Setrobuvir (ANA598), the US company’s most advanced drug candidate, is a direct-acting antiviral compound that is currently being evaluated by Anadys in a Phase II study in combination with Roche’s pegylated interferon (Pegasys) and ribavirin (Copegus).

Jean-Jacques Garaud, global head of Roche Pharma Research and Early Development, said: “This acquisition augments our already strong HCV portfolio. Our aim is to offer physicians and hepatitis patients a powerful combination of therapies that bring us closer to a cure, even without the use of interferon. Anadys’ compounds provide additional modes of action that could lead to interferon-free treatment regimens without viral resistance.”