Blackstone Invests $2B in Alnylam Pharmaceuticals

Blackstone Group Inc. is investing $2 billion in Alnylam Pharmaceuticals Inc. through a combination of equity and debt, giving the biotech company the cash it needs to bring more of its products to market. The biggest piece of the deal, announced Monday, consists of a $1 billion investment led by Blackstone Life Sciences to purchase up to 10% of the future total royalties of inclisiran, a drug to treat high cholesterol. The life-sciences unit will also invest up to $150 million in the development of two other Alnylam drugs.

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