Ionis to Acquire Remaining Stake in Akcea Therapeutics for $18.5/share

 Ionis to Acquire Remaining Stake in Akcea Therapeutics for $18.5/share

Shots:

  • Ionis will acquire all the outstanding shares of Akcea common stock it does not already own, ~24%, for $18.15/share in cash, making a total deal value as $500M. The transaction is expected to be completed in Q4’20
  • Following the completion of the acquisition, Ionis will get access to Akcea’s rich pipeline and commercial products which will strengthen its financial position and supports its capital allocation strategy
  • Ionis will gain full access to Akcea’s cash on hand of ~$390M as of June 30, 2020, and future cash flows to further invest in the company’s future and will achieve meaningful cost synergies

Click here ­to­ read full press release/ article | Ref: PRNewswire | Image: Rawpixel

Tuba Khan

Tuba Khan is Senior Editor at PharmaShots. She is curious, creative, and passionate about recent updates and innovation in the Life sciences industry. She covers Biopharma, MedTech, and Digital health segments. Tuba also has an experience of digital and social media marketing and runs the campaigns independently. She can be contacted on tuba@pharmashots.com

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