Japanese conglomerate to buy Calliditas Therapeutics, maker of a kidney disease drug

LONDON — Seeking to build up its pharma business, the Japanese conglomerate Asahi Kasei is moving to buy Swedish biotech Calliditas Therapeutics in a nearly $1.1 billion cash deal, the companies said Tuesday. 

The firm’s offer of $19.68 per share amounts to an 83% premium versus Calliditas’ closing price on a Swedish exchange Monday. The Calliditas board has unanimously recommended that shareholders accept the offer, the company said, adding that it “aims to realize the benefits of being part of a larger platform” by being acquired. 

Calliditas has an approved drug on the U.S. market called Tarpeyo, which treats a kidney disease called IgA nephropathy. The condition has in recent years attracted interest from a number of pharma companies. 

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