AstraZeneca Proposes $10 Billion Acquisition of Rhythm Pharmaceuticals

AstraZeneca submitted a non-binding proposal to acquire Rhythm Pharmaceuticals for approximately $10 billion, valuing it at up to $134 per share, including milestone-based payments. The offer follows a $124-per-share proposal last month. AstraZeneca plans to integrate Rhythm into its Alexion rare disease unit, expanding its portfolio in rare diseases and obesity treatments.