AstraZeneca to Buy Amolyt Pharma for Up to $1.05 Billion
By Michael Susin
AstraZeneca said it will acquire Amolyt Pharma for up to $1.05 billion, expanding its late-stage studies rare-disease pipeline.
The pharmaceutical heavyweigth on Thursday said the deal includes a $800 million upfront payment, plus the right for Amolyt's shareholders to receive an extra payment of $250 million payable upon certain milestones.
The transaction is expected to close by the end of the third quarter.
The acquisition will bolster AstraZeneca's subsidiary Alexion rare-disease pipeline and expand on its bone metabolism franchise with the addition of eneboparatide, a phase III investigational therapy for hypoparathyroidism.
Write to Michael Susin at michael.susin@wsj.com
(END) Dow Jones Newswires
March 14, 2024 03:32 ET (07:32 GMT)
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