Sobi agrees to buy CTI BioPharma for $1.7bn

Swedish Orphan Biovitrum (Sobi) has entered into a definitive agreement to buy biopharmaceutical company CTI BioPharma in an all-cash deal valued at $1.7bn.

Sobi will start a tender offer through its wholly owned indirect subsidiary to buy all outstanding CTI shares for $9.10 for each share of common stock in cash.