Japanese conglomerate Asahi Kasei Corp acquires Swedish biotech firm Calliditas Therapeutics AB for $1.1B to expand healthcare business.

Japanese conglomerate Asahi Kasei Corp plans to acquire Swedish biotech firm Calliditas Therapeutics AB for approximately 11.8 billion kronor ($1.1 billion) to expand its healthcare business. Asahi Kasei offered to pay 208 kronor per share, an 83% premium to Calliditas' previous closing price, prompting a surge in the company's stock. Calliditas brings a rare disease treatment with years of exclusivity in the US to Asahi Kasei's portfolio.