Ipsen made two acquisitions this week, but this happened more by chance than planning, Chief Business Officer Philippe Lopes-Fernandes says in an interview. The French drugmaker said it would buy Kartos Therapeutics, a company developing a drug for a rare blood cancer, for up to $1.75 billion and Memo Therapeutics, which is working on a treatment for a kidney infection, in a separate deal that could exceed 700 million euros. "We've been working on that for months. That's why [the coincidence] is more serendipity than planning," Lopes-Fernandes says. Both deals complement Ipsen's existing work in oncology and rare diseases, and the company is looking for more, Lopes-Fernandes adds. Shares fall 1.1%. (adria.calatayud@wsj.com)
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Ipsen's Big Acquisition Week Was Serendipity, Executive Says — Market Talk
Ipsen made two acquisitions this week, but this happened more by chance than planning, Chief Business Officer Philippe Lopes-Fernandes says in an interview. The French drugmaker said it would buy Kartos Therapeutics, a company developing a drug for a rare blood cancer, for up to $1.75 billion and M…