** Shares of drugmaker Assertio Holdings ASRT.O rise 3.7% to $23.38 premarket

** ASRT says Indian drugmaker Zydus Lifesciences ZYDU.NS will acquire the company for $23.50 per share or $166.4 million

** The offer from Zydus Lifesciences' subsidiary Zydus Worldwide DMCC, tops Assertio's earlier merger agreement with Garda Therapeutics, ASRT says

** Through the deal, Zydus will gain 8 FDA approved drugs for various conditions

** Zydus' offer represents a 4% premium to ASRT's last close

** The offer represents a 30.6% premium to Garda's original $18-per-share cash offer announced in April, and a 7.8% premium to Garda's revised $21.80-per-share offer announced on May 4, Assertio said

** Assertio says the deal is expected to close in the second quarter of 2026

** As of last close, ASRT was up 148% YTD