Kidney Drugmaker Seizes $1.5B Buyout Offer
Relpysa's drug for kidney dialysis patients was the first new, Food and Drug Administration-approved treatment for hyperkalemia in a half-century.
San Francisco Business Times:
Peninsula Biotech's $1.5 Billion Buyout Nearly Triple IPO Price
Nine months after Relypsa Inc. won FDA approval for a kidney disease drug, it has grabbed a Swiss company's $1.5 billion buyout offer, the companies said late Wednesday. The $32-per-share deal between Berne-based Galencia Group and Relypsa is nearly triple the price of the Redwood City company's late 2013 IPO. The all-cash deal, expected to close in the third quarter, will give Galencia's Vifor Pharma unit worldwide control of Veltassa, a drug designed for chronic kidney disease patients with hyperkalemia, a potentially fatal level of potassium. (Leuty, 7/21)