Roche buys US drugmaker Promedior for up to US$1.4 billion to get lung drug

Roche buys US drugmaker Promedior for up to US$1.4 billion to get lung drug

Swiss drugmaker Roche is paying up to US$1.4 billion to buy U.S. biotech company Promedior, whose main drug candidate against the lung disease idiopathic pulmonary fibrosis is set to begin late-stage trials, Promedior said on Friday.

FILE PHOTO: Logo of Swiss drugmaker Roche is seen at its headquarters in Basel
FILE PHOTO: The logo of Swiss drugmaker Roche is seen at its headquarters in Basel, Switzerland February 1, 2018. REUTERS/Arnd Wiegmann/File Photo

ZURICH: Swiss drugmaker Roche is paying up to US$1.4 billion to buy U.S. biotech company Promedior, whose main drug candidate against the lung disease idiopathic pulmonary fibrosis is set to begin late-stage trials, Promedior said on Friday.

The deal includes a payment of US$390 million, plus the potential for US$1 billion more if conditions are met. Promedior's lead asset PRM-151 is being studied in IPF where the firm said it helped improve lung function, on top of current therapies.

Roche already has an IDF medicine, Esbriet, with 2018 sales of just over US$1 billion.

(Reporting by John Miller; Editing by Michael Shields)

Source: Reuters

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