Belgium's UCB to buy Ra Pharmaceuticals in .1 billion cash deal

2020-02-19 15:28:23    阅读:533143

(Reuters) - UCB has agreed to acquire U.S.-based Ra Pharmaceuticals for $2.1 billion, both companies reported on Thursday, in a deal that will enable the Belgian drugmaker to offer

new treatment opportunities for several rare diseases in neurology and immunology. “Ra Pharma is an excellent strategic fit addressing multiple areas of UCB’s patient value growth strategy,” UCB’s Chief Executive Officer Jean-Christophe Tellier said in a joint statement. Tellier added that t

he

acquisition would generate six potential product launches in the next five years, strengthening the company’s neurology and immuno

logy franchises with late and early-stage pipeline projects. The acquisition of the clinical-stage biopharmaceutical company, which was founded in 2008, is expected to contribute to UCB’s core earning per share and increase its revenue and ne

t profit from 2024 onwards. It would not impact UCB’s financial guidance for 2019 but

due to related R&D investments, U内部透密四码四肖 CB moved the mid-term target of reaching a recurring core profit (rEBITDA) ratio to revenue of 31% to 2022 from 2021, it said. Shareholders of the Cambridge, Massachusetts-based company will receive $48.00 in cash for each

share

they hold in Ra Pharma, what represents about 93% premium based on average closing stock pri

ce of Ra Pharma prior to signing, the statement said. The purchase is to be funded by a combination of existing cash resources and new bank term

loans, arranged and underwritten by BNP Paribas Fortis and B

ank of America Merrill Lynch, the companies said. The transaction, which has been unanimously approved by the boards of directors of both UCB and

Ra Pharma, is e

xpected to complete by the end of the first quarter of next year.

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