Orchard Therapeutics rises on buyout deal by Japanese drugmaker
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;))
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