Deals
Tarsus to Acquire Alkeus for Up to $800 Million, Rare Eye Disease Drug Development Gains New Owner
Tarsus Pharmaceuticals announced on Thursday the acquisition of Alkeus Pharmaceuticals, with a total transaction value of up to $800 million, including $270 million in cash and $180 million in stock, plus milestone payments of up to $350 million. Alkeus's core asset is gildeuretinol, an experimental drug for treating Stargardt disease, which has entered Phase III clinical trials. This acquisition marks the end of Alkeus, a startup long operated by an individual.
AstraZeneca and Bristol-Myers Squibb's 'mega-merger' rumors raise Wall Street concerns
The Financial Times, citing sources familiar with the matter, reported that AstraZeneca and Bristol-Myers Squibb discussed a merger in recent months, but Wall Street reacted negatively, with AstraZeneca's share price falling over 8% at one point, erasing approximately $22 billion in market value. Analysts questioned the rationale for the deal and noted that antitrust issues and valuation differences could be major obstacles.