Roche Buys 89bio (ETNB), Big Bet on MASH

Roche is stepping into the MASH/NASH race. The company will acquire 89bio (ETNB) for $14.50/share in cash (~$2.4B equity value). On top of that, shareholders get a CVR worth up to $6.00/share, bringing the total potential deal value to $3.5B.

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