(Reuters) -Ironwood Pharmaceuticals Inc said on Monday it will acquire Switzerland-based drug developer VectivBio Holding AG for $1.15 billion to boost its portfolio of experimental digestive disorder drugs.
Ironwood will pay $17 per share for VectivBio, a premium of about 43% to VectivBio’s last close.
The deal is expected to close in the second half of 2023, Ironwood said.
As part of the deal, Ironwood will acquire VectivBio’s experimental drug apraglutide, which Ironwood says could reach $1 billion in peak net sales.
(Reporting by Raghav Mahobe in Bengaluru; Editing by Janane Venkatraman and Shounak Dasgupta)
