Deploying some of its $150B cash hoard, Blackstone Group (NYSE:BX) will invest $2B in Alnylam Pharmaceuticals (NASDAQ:ALNY) aimed at boosting its pace of bringing products to market.
The deal includes a $1B stake led by Blackstone
Life Sciences for 10% of future inclisiran royalties and up to $150M to
help fund development of two other ALNY candidates.
Blackstone credit arm GSO Capital Partners will
provide ALNY with a loan of up to $750M, while Blackstone will acquire
$100M of newly issued common stock.
ALNY is up 4% premarket on light volume, while BX is down 1%
https://seekingalpha.com/news/3560031-alnylam-up-4-premarket-on-2b-blackstone-investment
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