By David Sachs

Roche aims to buy Carmot Therapeutics, a California-based pharmaceutical firm developing drugs to treat obesity and diabetes.

The Swiss pharmaceutical company said it has entered an agreement to acquire the private company for $2.7 billion with additional payments of up to $400 million based on drug-development milestones.

The deal would give Roche access to Carmot's research-and-development portfolio, including all clinical and pretrial assets, Roche said. The portfolio includes drugs in development to treat obesity as well as type-1 and type-2 diabetes, Roche said.

Roche expects to close the transaction in the first quarter of 2024.

Write to David Sachs at david.sachs@wsj.com

(END) Dow Jones Newswires

December 04, 2023 01:32 ET (06:32 GMT)

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