Market Flux Event
AstraZeneca Made $10 Billion Offer for Rhythm Pharmaceuticals at $124 a Share
Read this in the Market Flux appAstraZeneca offered roughly $10 billion last month to acquire Rhythm Pharmaceuticals, a deal that would significantly expand the British drugmaker's rare disease portfolio, the Wall Street Journal reported on November 4. The offer was pitched at $124 per share for Rhythm, which trades on the Nasdaq under the ticker RYTM.
Rhythm Pharmaceuticals specializes in treatments for rare metabolic conditions and severe obesity. The company's lead product, Imcivree, targets genetic forms of obesity, positioning Rhythm as a strategic fit for AstraZeneca as the pharma giant looks to build out its rare disease and metabolic disease business.
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Sources
- Schwab NetworkCVS Dismantling Healthcare Empire: Regulatory Tailwinds v. Cost Headwinds
- Seeking AlphaOmega Healthcare: A 10% Return Doesn't Require A Perfect Scenario
- WsjAstraZeneca Made $10 Billion Offer for Rhythm Pharmaceuticals
- LiveSquawkAstraZeneca Made $10 Billion Offer For Rhythm Pharmaceuticals – WSJ
- WSJmarketsAstraZeneca recently made a roughly $10 billion offer to buy Rhythm Pharmaceuticals, a deal that would expand its portfolio of rare disease treatments
- FaststocknewssASTRAZENECA $AZN REPORTEDLY MADE $10 BILLION OFFER FOR RHYTHM PHARMACEUTICALS $RYTM AstraZeneca offered last month to pay $124 a share for Rhythm, per the Wall Street Journal.
- FirstSquawkASTRAZENECA MADE $10 BILLION OFFER FOR RHYTHM PHARMACEUTICALS – WSJ
- WallstengineAstraZeneca $AZN offered about $124 a share, or roughly $10 billion, for obesity drugmaker Rhythm Pharmaceuticals last month, the WSJ reports