Plus   Neg

Blackstone To Invest Up To $2 Bln In Alnylam

Blackstone (BX) will invest up to $2 billion in Alnylam Pharmaceuticals Inc. (ALNY) to support Alnylam's advancement of RNA interference medicines.

In Monday pre-market trade, ALNY is trading at $120.30, up $3.92 or 3.37 percent.

The investment includes $1 billion in committed payments to acquire 50 percent of Alnylam's royalties and commercial milestones for high-cholesterol drug inclisiran.

Blackstone will also provide Alnylam up to $750 million of senior secured term loan, and will buy $100 million worth of Alnylam common stock.

Blackstone will invest up to $150 million for development of Alnylam's cardiometabolic programs vutrisiran and ALN-AGT.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Moderna said Tuesday that it has reached an agreement with the U.S. to initially supply 100 million doses of its experimental vaccine for COVID-19, mRNA-1273. The U.S. government has awarded up to $1.525 billion for the vaccine. Las Vegas, Nevada-based Mr. Wok Foods has recalled about 200,000 pounds of meat and poultry products for misbranding and undeclared allergens, the U.S. Department of Agriculture's Food Safety and Inspection Service or FSIS said. The recalled products may contain known allergens such as milk, wheat, soy, peanuts, or oysters. They may also contain MSG, sesame products, or sulfites. The U.S. Food and Drug Administration approved the first oral drug to treat patients two months of age and older with spinal muscular atrophy (SMA) that can be taken at home. Roche subsidiary Genentech's Evrysdi (risdiplam) is also the second FDA-approved drug to treat this rare and often fatal genetic disease affecting muscle strength and movement.
Follow RTT