Overview
- Reports that surfaced on Wednesday and Thursday said AstraZeneca proposed roughly $124 a share for Rhythm with total consideration that could reach about $134 a share when milestone payments are included.
- Rhythm’s stock jumped about 28% to just over $110 after the reports, valuing the company near $7.6 billion, while AstraZeneca’s shares rose roughly 3 percent.
- Neither company has confirmed the offer and an AstraZeneca spokesperson declined to comment, leaving the proposal’s price, structure and binding status uncertain.
- Rhythm’s lead drug Imcivree won an expanded U.S. approval in March, and the asset would plug into AstraZeneca’s obesity push and its Alexion rare‑disease unit.
- The reported approach reflects a wider push by large drugmakers to buy niche obesity and rare‑disease assets and could prompt more takeover interest if parties move from talks to a firm deal.