Bayer Bids $2.42B for Cancer Drug Partner Algeta

Nov 26, 2013

Reuters

Bayer, Germany’s biggest drugmaker, has offered a $2.42 billion bid for Norway's Algeta, its partner for a recently-approved prostrate cancer treatment.

A sale would give Bayer full control of the jointly-developed Xofigo, a drug designed to treat prostate cancer patients whose disease has spread to their bones, as well as a pipeline of experimental radiation therapies.

According to Reuters, Algeta CFO Oystein Soug said that rival bids could not be ruled out. Soug also told Reuters, "I think this company has great prospects on a standalone basis." .

Read the Reuters press release

Join the discussion

We welcome your thoughtful comments. Please comply with our Community rules.
All comments will display your user name.

Want to participate in the discussion?

Register for free

Log in for complete access.

Comments

No one has commented on this page yet.

RSS feed for comments on this page | RSS feed for all comments