- Asahi Kasei will acquire Calliditas for SEK 11.8 billion through a voluntary tender offer.
- The offer price is SEK 208 per ordinary share and SEK 416 per ADS.
- Major shareholders controlling 44.65% of shares have committed to accepting the offer.
- The acquisition focuses on R&D and unmet medical needs, including Calliditas' product Tarpeyo for IgA nephropathy.
Acquisition Details
Asahi Kasei Corp. plans to acquire Calliditas Therapeutics for SEK 11.8 billion (approximately 1 billion Euro) through a voluntary tender offer. This includes an offer to acquire all American Depositary Shares (ADS) of Calliditas, listed on Nasdaq Global Select Market, at SEK 208 per ordinary share and SEK 416 per ADS. Major shareholders, controlling 44.65% of all shares, have committed to accepting the offer. The boards of both companies have approved the tender offer.
Strategic Growth and Expansion
The acquisition aligns with Asahi Kasei’s strategy to strengthen its presence in the healthcare industry, particularly in markets addressing aging populations. Asahi Kasei has a history of successful acquisitions, such as ZOLL in 2012 and Veloxis in 2020, which have significantly contributed to its revenue and operating income. In fiscal year 2023, healthcare accounted for 20% of Asahi Kasei’s net sales and 34% of its operating income.
Future Outlook
Asahi Kasei’s medium-term management plan for 2024 emphasizes the importance of the pharmaceutical business. The acquisition of Calliditas aims to accelerate Asahi Kasei’s transformation into a global specialty pharmaceutical business, enhancing capabilities in immunology, transplantation, and related diseases. The acquisition is subject to customary closing conditions, including antitrust and foreign direct investment clearances. Once finalized, Asahi Kasei expects significant synergies, including an expanded in-house sales structure for renal and autoimmune disease fields in the U.S., a strengthened R&D presence in Europe, and an enriched pipeline of in-licensing and new drug development opportunities.
