Sidelined at the FDA, AstraZeneca watches as new team seizes rival drug in $1.5B Relypsa buyout
Back in April, the M&A buzz in biotech swung its spotlight to Relypsa, a company that had fielded Veltassa (patiromer), a hyperkalemia drug that grabbed an approval by the FDA last fall. At the time the latest rumors surfaced, it sounded like the frustrated bidders for rival ZS Pharma – outbid at the auction by AstraZeneca — were driving the chatter. But this morning we hear that it’s Relypsa’s European partners at Galenica who were the most motivated to complete a deal.
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