CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Please refer to our Risk Disclosure Statement
Open platformOpen platform

AstraZeneca made $10 billion bid for obesity drugmaker Rhythm, WSJ reports

By Reuters News

Nov 4 (Reuters) - AstraZeneca AZN.L made an about $10 billion offer to acquire obesity drugmaker Rhythm Pharmaceuticals RYTM.O, the Wall Street Journal reported on Wednesday, citing people familiar with the matter.

The British drugmaker offered about $124 per share for Rhythm last month, the report said.

Shares of Rhythm closed up 28% at $110.68 on the news, giving it a market capitalization of about $7.64 billion, according to LSEG data.

AstraZeneca had previously expressed interest in Rhythm, which develops treatments for rare metabolic disorders and severe obesity, and renewed its pursuit in recent months, the report added.

AstraZeneca declined to comment, while Rhythm did not immediately respond to requests for comment.

Capital Com is an execution-only service provider. The present material must be regarded as marketing communication and should not be interpreted as investment research or investment advice. Any opinion that may be provided on this page does not constitute a recommendation by Capital Com or its agents. We do not make any representations or warranty on the accuracy or completeness of the information that is provided on this page. If you rely on the information on this page, then you do so entirely at your own risk