Orchard Therapeutics rises on buyout deal by Japanese drugmaker

Kyowa Kirin

05/10/2023 13:42

** U.S.-listed shares of UK-based Orchard Therapeutics Plc
 ORTX.O  rise 96.8% to $16.02 premarket
    ** Japanese pharmaceutical firm Kyowa Kirin  4151.T  says it
will acquire the gene therapy developer for $477.6 mln 
    ** Deal gives Kyowa access to ORTX's lead therapy, Libmeldy,
to treat a hereditary condition in children that affects fat
metabolism  
    ** Kyowa expects the deal to be completed in the first
quarter of 2024  
    ** Up to last close, U.S.-listed shares of ORTX more than
doubled YTD
    

 (Reporting by Mariam Sunny in Bengaluru)
 ((Mariam.ESunny@thomsonreuters.com;))