Life Sciences Daily Summary
Life Sciences Daily Summary: What Happened on October 22, 2026
EQT agrees to buy Qiagen for €10.8 billion
The European Commission cleared MSD’s bladder cancer regimen, while Astellas agreed to pay AI Proteins more than $400 million upfront for miniprotein research.
Today in brief
EQT and Qiagen agreed to a cash takeover that values the diagnostics company at about €10.8 billion. They expect to complete the deal in mid-2027 if conditions are met.1 The European Commission authorized MSD’s Keytruda-Padcev combination around surgery for adults with resectable muscle-invasive bladder cancer.2 Astellas agreed to pay AI Proteins more than $400 million upfront to design miniproteins against targets Astellas selects.3
EQT offers €46.50 a share for Qiagen
EQT Private Equity and Qiagen agreed to a voluntary, all-cash takeover offer of €46.50 per share. The offer values Qiagen at about €10.8 billion, including net debt.1 That price is 40.3% above Qiagen’s unaffected closing price on July 8, 2026.1
Qiagen said its boards unanimously backed the deal after considering strategic and private equity buyers.1 The boards said private ownership would give the company more room for long-term investment and pursuing its strategy.1 The consortium also includes Luxinva and CPP Investment Board Europe. Qiagen will keep its name after the acquisition closes.1
The offer requires acceptance from holders of more than half of Qiagen’s outstanding share capital, shareholder approval, and antitrust and foreign investment clearances.1 The companies expect to close the deal in mid-2027 if those conditions are met.1
EU clears Keytruda and Padcev around bladder surgery
The European Commission authorized MSD’s Keytruda and Padcev for adults with resectable muscle-invasive bladder cancer, whether or not they can receive cisplatin.2 Patients can start treatment before radical cystectomy, surgery to remove the bladder, and continue afterward.2
In the 808-patient Phase 3 KEYNOTE-B15 study, the regimen reduced the risk of recurrence, disease progression, or death by 47% compared with chemotherapy and surgery.2 The mortality risk was 35% lower. Pathologic complete response, meaning no cancer was found in tissue examined after treatment, occurred in 55.8% of patients, compared with 32.5% on chemotherapy alone.2
The authorization covers the 27 European Union member states, Iceland, Liechtenstein, and Norway. It also includes Keytruda SC, sold in the United States as Keytruda Qlex.2 MSD said availability will depend on national reimbursement processes.2
Astellas commits more than $400 million upfront to AI Proteins
Astellas Innovation Management will pay AI Proteins more than $400 million upfront to design and optimize de novo miniproteins against targets Astellas selects.3 AI Proteins may also receive milestone payments and royalties on sales of resulting therapies.3
AI Proteins will use its computational platform to generate candidates. Astellas holds an exclusive worldwide license and will lead later development, regulatory work, and commercialization.3