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Story summary
- Argenx announced it will acquire Forte Biosciences for $2.2 billion in cash.
- The transaction values Forte at $77 per share, a 41% premium to its Friday closing price.
- The acquisition is intended to expand Argenx’s immunology pipeline as midsize biopharma firms pursue pick-up targets.
- Argenx’s drug Vyvgart is approved to treat generalized myasthenia gravis and chronic inflammatory demyelinating polyneuropathy.
