AstraZeneca to Buy Rare-Disease Specialist Amolyt Pharma for Up to $1.05 Billion — Update

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 Anglo-Swedish pharmaceutical heavyweight on Thursday said the deal includes a $800 million upfront payment for the rare endocrine and related diseases specialist, plus 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 potential treatment for hypoparathyroidism currently in phase three study.

According to Amolyt's website, topline data from the trial is expected to be published in the first half of 2025. The group is also developing a potential treatment for acromegaly, currently in phase one study.

The acquisition follows a number of recent billion-figure takeovers from AstraZeneca, with biopharmas Gracell being acquired for $1.2 billion and Icosavax for $1.1 billion, both in the same month. It also acquired last year a gene therapy portfolio from its competitor Pfizer for up to $1 billion.

Alexion, the AstraZeneca's rare-disease arm, was created following the 2021 acquisition of Alexion Pharmaceuticals.

Write to Michael Susin at michael.susin@wsj.com

(END) Dow Jones Newswires

March 14, 2024 06:22 ET (10:22 GMT)

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