Davis Polk Advises Roche In $230M Deal To Buy Anadys

Law360, New York (October 17, 2011, 2:37 PM EDT) -- Swiss drug giant Roche Holding AG said Monday it had agreed to buy Anadys Pharmaceuticals Inc. for roughly $230 million to boost its offerings for treating hepatitis C.

Roche will pay $3.70 per share in an all-cash deal. The transaction will give Roche access to Anadys' main hepatitis drug setrobuvir, which has shown positive results in a Phase II clinical trial involving Roche drugs, as well as ANA773, which is in phase I clinical trials and could also treat other chronic infections and cancer.

“This acquisition...
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