Samsung Biologics to buy Swiss PolyPeptide Group in $1.8 billion deal
Samsung Biologics has made an all-cash bid of $1.8 billion to acquire the Swiss-based PolyPeptide Group. The deal aims to expand Samsung's capabilities in peptide therapeutics, particularly for obesity and diabetes treatments.
Why it matters
This acquisition represents a major consolidation in the biopharmaceutical industry, driven by the high market demand for GLP-1 weight-loss drugs.
South Korea's Samsung Biologics said on Monday that it had made an all-cash bid of 1.46 billion Swiss francs ($1.8 billion) for Switzerland's PolyPeptide Group , which specializes in peptide-based active pharmaceutical ingredients.
Under the terms of the public tender offer, stockholders will receive 44.31 Swiss franc per share. The transaction is expected to close by the end of this year.
PolyPeptide shares rose almost 5.3% in morning trade.
The acquisition will be the largest biopharmaceutical M&A deal in the country's history, Samsung Biologics said, as it aims to diversify its portfolio by expanding into peptide therapeutics, one of the fastest-growing segments in the biopharmaceutical industry due to surging demand for obesity treatment.
Peptide therapeutics are medicines made from short chains of amino acids, including some GLP-1 obesity and diabetes drugs that mimic a natural hormone to reduce appetite and regulate blood sugar.
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