Galencia Acquires Relypsa for $1.53 Billion

Galencia will purchase Relypsa for $1.53 billion, with an eye toward bolstering its specialty pharma unit Vifor Pharma.

Under the all-cash deal, Galencia will pay $32 per share, with the deal expected to close this fall.

The move provides the Swiss company’s business unit Vifor Pharma with a U.S commercial network in the cardio-renal market.   

The drug was originally developed by Progenics as an injectable back in 2008, but was converted to a tablet after Progenics licensed the rights to Salix Pharmaceuticals in 2011. Salix was purchased three years later by Valeant for $11 billion.