Dec 13 (Reuters) – Drugmaker Swedish ‍Orphan Biovitrum said on Saturday it ‌had entered ‌into an agreement to acquire biotechnology company Arthrosi Therapeutics ‍for $1.5 billion.

Sobi will pay $950 million ‍upfront in cash to acquire Arthrosi, ‍and $550 million in cash ‍in clinical, ‍regulatory and sales ⁠milestones.

(Reporting by ‌Gnaneshwar Rajan in Bengaluru, Editing by Timothy ⁠Heritage)

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