Akebia, Vifor in distribution deal for vadadustat

Akebia Therapeutics Inc. (NASDAQ:AKBA) was up $1.87 (14%) to $14.77 in after-hours trading after it said it granted Vifor Pharma Group (SIX:VIFN) exclusive U.S. distribution rights to vadadustat (formerly AKB-6548) to treat anemia associated with chronic kidney disease (CKD). Dialysis units in Vifor's Fresenius Medical Care unit are to use the inhibitor of hypoxia-inducible factor prolyl hydroxylase (HIF-PH; EGLN) exclusively "to meet their need for a HIF-based treatment," the partners said.

Vifor invested $50 million in Akebia though the purchase of about 3.6 million shares at $14. The price is a 9% premium to Akebia's close of $12.90 on Monday, before the news was announced after hours. Akebia had gained $0.21 during regular trading...