Marathon to buy pharma company

Marathon Asset Management signed a deal to acquire Kaléo for $310 million in cash as the firm boosts its healthcare-oriented investments.

Richmond, Virginia-based Kaléo is a privately held pharmaceutical company that serves patients at risk for anaphylaxis and other serious life-threatening conditions. The deal will offer liquidity for Kaléo shareholders upon closing in a series of cash payments through 2023.

“The sales trajectory of Kaléo has been impressive, and we view the company as a platform for growth,” said Dr. Evan Bedil, head of healthcare at Marathon. “We . . .

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