Summary
Shareholders vote through the final approval required to merge Keryx Biopharmaceuticals with Akebia Therapeutics.
The two companies will work together to fight kidney disease with a stronger financial profile and potential for accelerated growth.
Merger brings increased risk in investment but also increased potential for higher rewards.
Two Heads Are Better Than One
Akebia Therapeutics (AKBA) recently announced that their shareholders voted to approve the share issuance proposal required to complete the merger with Keryx Biopharmaceuticals (KERX). The merger, completed on December 12th, 2018, offers up to $250M in potential cost savings and combined kidney disease expertise all under one roof (Figure 1). More than 95% of the shares voted at the special meeting voted in favor of the share issuance proposal. It is clear this was the best opportunity for both companies moving forward. John P. Butler will remain CEO, while Keryx has appointed Adrian Adams as chairman. The two companies will unite together as one to fight chronic kidney disease opening new opportunities for accelerated growth. This new biotech combination also opens up an enticing opportunity for investors going into the new year.
