Bayer AG decided to buy American biotech firm Vividion Therapeutics Inc. for around USD2 billion, assuring the developer of well-established therapies, which just weeks before filed for a primary public offering.The German drugmaker will straight pay USD1.5 billion and also another USD500 million in possible milestones for the biotech firm based in San Diego. The firm also increased its profit estimate for the year.
For Bayer, the deal is new in an array of deals proposed to flourish improvement at the pharma division and propel growth as its top hit medicines experience the loss of patent protection. The firm has operated to hold up its presence in gene and cell therapies, particularly with the USD4 billion conquest of Asklepios BioPharmaceutical Inc.
The pharma department for Bayer has fought for attention after the company’s USD63 billion conquest of agriculture organization Monsanto in 2018. That bulky price tag was just the beginning of the costs, as the deal brought Bayer, an increasingly exclusive bunch of lawful troubles on top of all for the contentious weedkiller rundown.Last week, the firm said that it might have to spend as much as USD16 billion in order to solve a lawsuit on Roundup that applicants say gives rise to cancer and Bayer claims is safe and sound.