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Neurocrine Biosciences is joining the M&A bonanza with a $2.9 billion takeover of profitable rare disease drugmaker Soleno Therapeutics.
Neurocrine will pay $53 per share in cash, a 34% premium to its last closing price, the companies said Monday morning. The deal gives Neurocrine access to Soleno’s Vykat XR, approved last year to squelch insatiable hunger in people with the rare genetic condition Prader-Willi syndrome, which can lead to obesity and muscle impairments.
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