VectivBio surges as Ironwood Pharma to buy co for $1.15 bln

Ironwood Pharmaceuticals

22/05/2023 12:28

** Shares of VectivBio Holding AG  VECT.O  rise about 40% to
$16.7 before the bell after Ironwood Pharmaceuticals  IRWD.O 
says it would buy the Switzerland-based drug developer for $1.15
billion 
    ** Shares of IRWD down ~14% at $9 premarket 
    ** IRWD gains access to VECT's experimental drug apraglutide
through the deal 
    ** IRWD will pay $17/share for VECT, representing a premium
of about 43% compared to its last close
    ** As of last close, VECT up nearly 37% and IRWD down about
15% so far this year 

    
    



 (Reporting by Bhanvi Satija in Bengaluru)
 ((Bhanvi.Satija@thomsonreuters.com; Outside U.S. +91
9873062788;))