Galenica Completes $1.53 Billion Acquisition of RelypsaBy
Galenica Group, a Bern, Switzerland-based specialty pharmaceutical company, has completed its previously announced acquisition of the Redwood City, California-based biopharmaceutical company, Relypsa. Galenica's Vifor Pharma Business unit will be combined with Relypsa to create a player in the cardio-renal care market in the US.
The acquisition strengthens Galenica in the US through its division, Vifor Pharma, which gains a fully integrated commercial organization in the US and boosts its presence in the US cardio-renal market. Vifor Pharma gains full global rights to Veltassa (patiromer), a potassium binder in oral suspension for treating hyperkalemia, which was approved by the US Food and Drug Administration in October 2015 and commercially launched in late December 2015.
Galenica announced the acquisition of Relypsa in July 2016 for $32 per share or approximately $1.53 billion.