MedWatch

Astra sinks Advent's USD 7.6bn buyout of biotech Sobi

Astrazeneca was the reason that the acquisition of Swedish pharmaceutical firm Sobi failed, as the pharmaceutical giant itself wanted certain assets from the Swedish company, sources say.

Photo: medwatch.dk

Astrazeneca Plc effectively blocked a USD 7.6bn takeover of Swedish Orphan Biovitrum AB by withholding its 8 percent stake in the drugmaker from a buyout offer by Advent International and Singapore wealth fund GIC, according to people familiar with the situation.

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