Asahi Kasei rides renal momentum with $1.1B Calliditas takeout

In the fourth $1 billion-plus pharma deal for a renal disease asset in the past 12 months, Asahi Kasei is gaining the first drug approved to treat IgA nephropathy via its acquisition of Calliditas.

Asahi Kasei Corp. (Tokyo:3407) will acquire the biotech for SEK208 ($19.69) per share, for a total deal value of SEK11,164 ($1.1 billion). The price represents an 83% premium over Monday’s close of SEK113.60...