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Actionable news in RLYP: RELYPSA Inc,

Galenica to Buy Relypsa for $1.53 Billion to Beef Up in U.S.

  • Swiss company offers $32 per share, 59% above Relypsa’s close
  • Galenica says Veltassa drug has blockbuster potential

Galenica AG, the owner of Switzerland’s biggest pharmacy network, agreed to buy Relypsa Inc. for about $1.53 billion to gain a new medicine and a commercial network in the U.S.

The Swiss company will pay $32 per share in cash for Redwood City, California-based Relypsa, it said in a statement on Thursday. That’s 59 percent above yesterday’s closing price of $20.10 for Relypsa.