A PYMNTS Company

Germany: Bayer’s boosted bid wins Norway firm

By  |  December 19, 2013

Germany-based pharmaceutical giant Bayer has won an acquisition offer for Norway-based Algeta as the two firms partner in the development of a new cancer drug.

Bayer’s boosted bid to $2.9 billion has reportedly won the company. The deal will allow Bayer to have control over the companies’ drug Xofigo, used to treat prostate cancer. The treatment is described as one of Bayer’s five most important drugs.

According to reports, Bayer initially offered $2.4 billion for the company.

Full Content: Chicago Tribune

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.