By David Sachs
Roche aims to buy Carmot Therapeutics, a California-based pharmaceutical firm developing drugs to treat obesity and diabetes.
The Swiss pharmaceutical company said it has entered an agreement to acquire the private company for $2.7 billion with additional payments of up to $400 million based on drug-development milestones.
The deal would give Roche access to Carmot’s research-and-development portfolio, including all clinical and pretrial assets, Roche said. The portfolio includes drugs in development to treat obesity as well as type-1 and type-2 diabetes, Roche said.
Roche expects to close the transaction in the first quarter of 2024.
Write to David Sachs at david.sachs@wsj.com
