Roche to buy small Massachusetts drugmaker for $390M

Roche will pay $390 million to purchase a small Lexington, Mass.-based drugmaker, Promedior, according to The Boston Globe.

Roche is buying Promedior to obtain its entire medical portfolio. Promedior's leading drug candidate is designed to treat idiopathic pulmonary fibrosis, a disease for which only two drugs are approved to treat, one of which is made by Roche.

Under the deal, Roche will pay Promedior another $1 billion if its drug development program meets goals for approval and marketing, according to The Boston Globe.

Bristol-Myers Squibb had a similar deal with Promedior in 2015, but decided last year not to buy the company.

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