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Bayer bids to acquire Norwegian pharma company

6:04 AM MST | December 6, 2013

The board of Algeta (Oslo) says it has received a preliminary acquisition proposal from Bayer. Bayer has offered to pay 336 Norwegian kroner ($54.68) per Algeta share, valuing the bid at $2.4 billion. Discussions are at an early stage, and further announcements may come, Algeta says. Bayer and Algeta are partners in Xofigo, which was approved by FDA in May for the treatment of castration-resistant prostate cancer, symptomatic bone metastases, and no known visceral metastatic disease. Xofigo is the first alpha particle–emitting radioactive therapeutic agent...

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