Roche Completes $3.5B 89bio Acquisition with US Antitrust Clearance

Roche has completed its $3.5 billion acquisition of liver drug developer 89bio after receiving U.S. antitrust clearance and successfully tendering for approximately 60.49% of 89bio's outstanding shares. The deal includes a cash payment of $14.50 per share plus a contingent value right of up to $6.00 per share based on milestone payments. Following the tender offer, Roche will finalize the acquisition through a merger, making 89bio a wholly owned subsidiary and delisting its shares from Nasdaq. Separately, Roche has signed a licensing agreement worth over $1 billion with Chinese biopharma Qyuns Therapeutics for global rights to QX031N, a clinical-stage bispecific antibody targeting respiratory diseases such as COPD and asthma. This deal includes $75 million upfront and up to $995 million in potential milestone payments, reflecting Roche's continued focus on expanding its respiratory disease treatment portfolio. While Roche's own COPD therapy astegolimab faced setbacks in clinical trials, the partnership with Qyuns represents a strategic move to bolster its pipeline with innovative therapies.