Update: Market Chatter: AstraZeneca Submits $10 Billion Takeover Offer for Rhythm Pharmaceuticals

12:02 AM EST, 11/05/2026 (MT Newswires) -- (Updates with AstraZeneca's statement) AstraZeneca (AZN.L, AZN.ST) offered $124 per share to take over biotechnology company Rhythm Pharmaceuticals, The Wall Street Journal reported Wednesday, citing people familiar with the matter. The unnamed sources said the offer came in October, after the British drugmaker previously expressed interest in Rhythm. The report noted that the proposal valued the target company at roughly $10 billion. An AstraZeneca spokesperson declined to comment when reached by MT Newswires, while Rhythm Pharmaceuticals did not immediately respond to requests for comment. (Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)