Roche To Acquire Anadys Pharmaceuticals, Inc. For $230 Million
17 Ottobre 2011 - 7:49AM
Dow Jones News
Roche Holding AG (ROG.VX) Monday said it will acquire Anadys
Pharmaceuticals, Inc. (ANDS) for $3.70 per share in an all-cash
transaction worth around $230 million.
MAIN FACTS:
- Based in San-Diego, California, Anadys develops oral, small
molecule therapeutics for the potential treatment of hepatitis C
virus infection.
- Setrobuvir, Anadys'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, and Anadys' compounds provide
additional modes of action that could lead to interferon-free
treatment regimens without viral resistance."
- Under the terms of the merger agreement, Roche will promptly
commence a tender offer to acquire all of the outstanding shares of
Anadys' common stock at a price of $3.70 per share in cash.
- This price represents a 256% premium to the closing price on
14 October 2011.
- The closing of the tender offer will be subject to the tender
of a number of shares that, together with the shares owned by
Roche, represent a majority of the total number of outstanding
shares (assuming the exercise of all vested and unvested options
and warrants having an exercise price per share less than the
tender offer price) and other customary conditions.
- Following completion of the tender offer, Roche will acquire
all remaining shares through a second step merger.
- Directors and officers beneficially owning approximately 7.9%
of the shares have agreed to tender their shares and otherwise
support the transaction.
-Zurich Bureau, Dow Jones Newswires, +41 43 443 80 47;
zurichdjnews@dowjones.com
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