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Galenica, a midsized Swiss drugmaker, has agreed to acquire the California biotech firm Relypsa for $1.5 billion in cash. Founded in 2007, Relypsa develops polymeric medicines for patients with conditions that can be treated in the gastrointestinal tract. FDA approved its first product, a treatment for elevated blood potassium levels, in October 2015. The drug, Veltassa, is based on a fluorinated polymer manufactured by the fine chemicals companies Saltigo and Patheon.
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