Japan’s Astellas Pharma to buy Audentes Therapeutics for $2.7 billion By Reuters

© Reuters.  Corning Earnings, Revenue Beat in Q3

© Reuters. Japan’s Astellas Pharma to buy Audentes Therapeutics for $2.7 billion

(Reuters) – Japan’s Astellas Pharma Inc (T:) said on Monday it had agreed to buy Audentes Therapeutics Inc (O:) for $2.7 billion in cash as it looks to bolster its position in the gene therapy market.

Astellas offer of $60 per share represents a 110% premium to Audentes closing price on Monday.

The deal is expected to close in the first quarter of 2020, the companies said in a statement.

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