Bayer's offer, which Algeta rejected one month ago, was $2.4B (#msg-94429823).
I’m calculating the buyout premium relative to the day before the original offer, which makes it 33%.
Algeta, a Norwegian company, developed the cancer radiotherapy, Xofigo and has co-marketing rights with Bayer in the US; in the rest of the world, Bayer pays Algeta a royalty on sales.
Xofigo has had a slow sales ramp since its May 2013 FDA approval, as detailed in #msg-91684833. It was cleared for marketing in the EU on 11/15/13.
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