PharmaEssentia (TPE:6446) board approved the acquisition of a 100% equity stake in Forus Therapeutics for C$50 million, according to a Thursday Taiwan Exchange filing.
Shares gained over 2% in Friday's late morning trade.
The company will fund the acquisition through internal resources or proceeds from its 2023 global depositary receipt issuance.
The deal will strengthen and expand the company's product presence in the Canadian market, it said.
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