Ironwood Pharma to acquire VectivBio for $1.15 bln (updated)

Ironwood Pharmaceuticals

22/05/2023 12:24

(Adds deal details in paragraphs 2-4)
       May 22 (Reuters) - Ironwood Pharmaceuticals Inc  IRWD.O 
said on Monday it will acquire Switzerland-based drug developer
VectivBio Holding AG  VECT.O  for $1.15 billion to boost its
portfolio of experimental digestive disorder drugs.
    Ironwood will pay $17 per share for VectivBio, a premium of
about 43% to VectivBio's last close.
    The deal is expected to close in the second half of 2023,
Ironwood said.
    As part of the deal, Ironwood will acquire VectivBio's
experimental drug apraglutide, which Ironwood says could reach
$1 billion in peak net sales.

 (Reporting by Raghav Mahobe in Bengaluru; Editing by Janane
Venkatraman and Shounak Dasgupta)
 ((Raghav.Mahobe@thomsonreuters.com))