NEW YORK ( TheStreet) -- Anadys Pharmaceuticals ( ANDS) agreed to be acquired by Roche Holding, the Swiss drugmaker, for $230 million.

Roche will pay $3.70 a share for Anadys, a premium of 256% over Anadys's closing price Friday of $1.04.

Anadys is the developer of Setrobuvir, an oral drug in trials for treatment of chronic hepatitis C infections.

"This acquisition augments Roche's already strong HCV portfolio," said Jean-Jacques Garaud, global head of Roche Pharma Research and Early Development, in a statement. "Our aim is to offer physicians and hepatitis patients a powerful combination of therapies that bring us closer to a cure, even without the use of interferon. Anadys' compounds provide additional modes of action that could lead to interferon-free treatment regimens without viral resistance."

-- Written by Joseph Woelfel

>To contact the writer of this article, click here: Joseph Woelfel

>To submit a news tip, send an email to: tips@thestreet.com.
Copyright 2011 TheStreet.com Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed. AP contributed to this report.

If you liked this article you might like

7 Stocks Hitting New 52-Week Highs

7 Stocks Hitting New 52-Week Highs

Roche's All-Oral Hep C Therapy Could Be First, Not Best, to Reach Market

Roche's All-Oral Hep C Therapy Could Be First, Not Best, to Reach Market

Roche-Anadys Hookup Could Spark More Hep C Acquisitions

Roche-Anadys Hookup Could Spark More Hep C Acquisitions

Hep C Drug Updates: Vertex and Anadys

Hep C Drug Updates: Vertex and Anadys