Sweden’s SOBI to buy Arthrosi Therapeutics for $1.5 billion

Dec 13 (Reuters) – Drugmaker Swedish ‍Orphan Biovitrum said on Saturday it ‌had entered ‌into an agreement to acquire biotechnology company ​Arthrosi Therapeutics ‍for $1.5 ​billion.

Sobi will ​pay $950 million ‍upfront in cash to acquire Arthrosi, ‍and $550 million in cash ‍in clinical, ‍regulatory ​and ​sales ⁠milestones.

(Reporting by ‌Gnaneshwar Rajan in Bengaluru, Editing by Timothy ⁠Heritage)