Asahi Kasei to buy Swedish drugmaker Calliditas for $1.1 billion

Calliditas Therapeutics AB

28/05/2024 08:08

TOKYO, May 28 (Reuters) - Japan's Asahi Kasei  3407.T 
said on Tuesday it offered to acquire Calliditas Therapeutics
 CALTX.ST  for about 11.8 billion Swedish crowns ($1.1 billion)
as part of a plan to become a global drug company.
    The Japanese firm will offer 208 crowns per share of
Stockholm-based Calliditas and 416 crowns for each American
depositary share in a deal approved by the boards of both
companies, Asahi Kasei said in a statement.
    The offer represents an 83% premium for Calliditas based on
the closing price of 113.6 crowns on Monday.
    Asahi Kasei, primarily known for its building materials
business, said it wants to grow its healthcare segment globally
in the fields of immunology, transplantation, and related
diseases.
    Calliditas focuses on orphan diseases and patients with
unmet medical needs. In recommending that shareholders accept
the tender offer, the Calliditas board said in a statement that
the company stands to "realise the benefits of being part of a
larger platform".
($1 = 10.5681 Swedish crowns)

 (Reporting by Rocky Swift; Editing by Muralikumar Anantharaman)
 ((rocky.swift@thomsonreuters.com;))