Swedish Orphan Biovitrum AB, or Sobi, SE:SOBI on Wednesday announced that it has entered into an agreement to acquire U.S.-based CTI BioPharma Corp. CTIC in a deal valued at $1.7 billion. Shares of CTI soared 83% in premarket trading, while Sobi stock fell 14% in Stockholm. The Swedish drugmaker said it will offer $9.10 for each share of CTI, which focuses on blood-related cancers and rare diseases. The offer represents a premium of 88.8% over CTI’s the Tuesday closing price of $4.82 per share. “CTI represents a perfect fit for Sobi’s haematology franchise today, adding a powerful and highly differentiated new product…
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