Bayer to Acquire a Lead Position in America's Gene Therapy Space

Cory Renauer, The Motley Fool
·2 min read
Bayer to Acquire a Lead Position in America's Gene Therapy Space
Bayer to Acquire a Lead Position in America's Gene Therapy Space

The world's largest pharmaceuticals and chemicals conglomerate took another big step into the gene therapy arena on Monday. Bayer (OTC: BAYRY) has agreed to acquire Asklepios BioPharmaceutical, a privately held U.S. company more commonly known as AskBio. Bayer will pay $2 billion in cash upfront for AskBio plus up to $2 billion in success-dependent milestone payments.