AstraZeneca Makes $10 Billion Takeover Offer for Rhythm Pharmaceuticals

AstraZeneca reportedly offered $10 billion to acquire Rhythm Pharmaceuticals at $124 per share, with the proposal submitted last month; neither company has confirmed the details. The deal would expand AstraZeneca’s rare-disease and obesity treatment portfolio and support its goal of reaching $80 billion in annual sales by 2030. Rhythm develops targeted peptide therapies for rare genetic neuroendocrine diseases.