Zentali, a German-Dutch biopharmaceutical company, is the latest company to sign a deal to buy Incytes, the leading manufacturer of drug-delivery systems in Europe.
The agreement follows a $2 billion deal in 2015 by Incytix, a Dutch company that makes delivery systems for diabetes drugs.
The acquisition will help bolster Zental’s growing portfolio of biopharma and injects more money into its healthcare and other businesses.
“Zentalis is a well-known brand in Europe and a well known player in the market,” Zental CEO Matthias Kiesling said in a statement.
“The acquisition of Incyts provides us with an even more strategic and flexible position to further strengthen our position in the industry and accelerate the commercialization of the new technology we are creating.”
Zental is expected to earn about $2,600 per share on a cash-and-equity basis.
Zental shares have gained more than 50% over the past year.
Zonalis had previously signed a $4 billion deal with Pfizer, a U.S. drugmaker, in March 2018.
It also acquired Zoonar Pharmaceuticals in April 2020.
The deal, which was approved by regulators in both countries, is expected for approval in 2019.