Asahi Kasei Buys Swedish Biotech Calliditas at 83% Premium

Japanese industrial groupAsahi Kasei Corp announced it plans to acquire Swedish biotechnology firm Calliditas Therapeutics AB at an 83% premium, in a deal valued at around 11.8 billion kronor ($1.12 billion).

Calliditas focuses on finding new treatments for rare diseases, so-called orphan drugs, and its fortunes have been tightly connected to kidney drug Tarpeyo, its one regulator approved drug, used to treat immunoglobulin A nephropathy (IgAN).

The board of Calliditas said in a separate statement that it unanimously recommends that shareholders accept the offer. “With Asahi Kasei as its new strategic owner, the Company aims to realize the benefits ...