GENEVA (AP) — Swiss drug maker company Roche Holding AG says it is buying U.S.-based Anadys Pharmaceuticals Inc. for $230 million.
Basel-based Roche says it will pay $3.70 per share, a premium of more than 250 percent on Anadys's closing price Friday.
Roche said in a statement Monday that the acquisition would boost its portfolio of drugs to treat hepatitis C.
San Diego-based Anadys has developed an oral drug called Setrobuvir that is currently being trialed for treatment of chronic hepatitis C infections.
Roche last week reported third-quarter sales of 9.82 billion Swiss francs ($10.98).
via news.yahoo.com
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