2/25/2019, 7:27 AM (Source: TeleTrader)
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Roche to buy Spark Therapeutics for $4.8B

European pharmaceutical giant Roche will acquire commercial gene therapy company Spark Therapeutics for approximately $4.8 billion, the latter announced in a press release on Monday.

Under the terms of the merger agreement, Roche will submit a tender offer to purchase all outstanding shares of Spark’s common stock while Spark will recommend to its shareholders that they tender their shares to Roche. Roche will then acquire all remaining shares at the same price of $114.50 per share through a second step merger following the completion of the tender offer. The deal, which is expected to be completed by the second quarter of this year, will allow Spark to continue operating in Philadelphia as an independent company within the Roche Group.

"Spark Therapeutics’ proven expertise in the entire gene therapy value chain may offer important new opportunities for the treatment of serious diseases," Roche CEO Severin Schwan (pictured) stated. "In particular, Spark’s hemophilia A program could become a new therapeutic option for people living with this disease. We are also excited to continue the investments in Spark’s broad product portfolio and commitment to Philadelphia as a center of excellence."

Baha Breaking News (BBN) / DZ