Swedish biotechnology company Biotage $BIOT.ST has announced that private equity firm KKR has made a cash bid to acquire the company for approximately 11.6 billion Swedish kronor (around $1.22 billion). The offer, priced at 145 kronor per share, represents a significant premium of 60.1% compared to Biotage's closing share price on April 17. The company's board has unanimously recommended that shareholders accept the proposal, indicating strong support for the acquisition.

The U.S. financial markets began the week with a sharp downturn in pharmaceutical and biotechnology stocks. On Monday, key industry players faced a decline in their stock prices following the news of Peter Marks' resignation as a leading figure in the Food and Drug Administration (FDA) responsible for vaccines. This unexpected departure marked the most significant personnel change in the regulator amidst a large-scale overhaul of federal health agencies spearheaded by Donald Trump's administration.