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Business
Bayer Offers To Buy Partner Firm Algeta
by Michael McCoy
December 2, 2013
| A version of this story appeared in
Volume 91, Issue 48
Bayer has offered to acquire the Norwegian cancer drug developer Algeta for 336 Norwegian krone per share, or about $2.4 billion. Since 2009, Bayer and Algeta have been partners in developing Xofigo (radium-223 dichloride), an Algeta drug for the treatment of patients with castration-resistant prostate cancer. Approved by FDA in May, Xofigo is the first α-particle-emitting radioactive therapeutic agent to be cleared by the agency. Algeta says its discussions with Bayer may not lead to a sale.
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