Roche Strikes Deal to Buy Drug Developer Carmot Therapeutics for $2.7 Billion
December 04 2023 - 1:47AM
Dow Jones News
By David Sachs
Roche aims to buy Carmot Therapeutics, a California-based
pharmaceutical firm developing drugs to treat obesity and
diabetes.
The Swiss pharmaceutical company said it has entered an
agreement to acquire the private company for $2.7 billion with
additional payments of up to $400 million based on drug-development
milestones.
The deal would give Roche access to Carmot's
research-and-development portfolio, including all clinical and
pretrial assets, Roche said. The portfolio includes drugs in
development to treat obesity as well as type-1 and type-2 diabetes,
Roche said.
Roche expects to close the transaction in the first quarter of
2024.
Write to David Sachs at david.sachs@wsj.com
(END) Dow Jones Newswires
December 04, 2023 01:32 ET (06:32 GMT)
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