A major pharmaceutical acquisition was announced Friday as French drug company Servier revealed plans to purchase Day One Biopharmaceuticals in a deal valued at approximately $2.5 billion.
The acquisition involves Servier paying $21.50 per share in cash, marking a significant 68% premium above Day One’s closing stock price.
The purchase will provide Servier with access to Ojemda, a medication designed to treat pediatric low-grade glioma, which represents the most frequently occurring type of brain tumor found in children.
According to company officials, Servier plans to finance the entire transaction using its current cash reserves and investment holdings.
