Home Health AstraZeneca to purchase Amolyt Pharma for $1.05 bln to spice up rare-disease portfolio – ET HealthWorld | Pharma

AstraZeneca to purchase Amolyt Pharma for $1.05 bln to spice up rare-disease portfolio – ET HealthWorld | Pharma

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AstraZeneca to purchase Amolyt Pharma for $1.05 bln to spice up rare-disease portfolio – ET HealthWorld | Pharma

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London: Drugmaker AstraZeneca mentioned on Thursday it might purchase uncommon endocrine diseases-focused agency Amolyt Pharma for $1.05 billion in money, in a bid to spice up its uncommon ailments portfolio.

Amolyt, backed by traders together with Danish drugmaker Novo Nordisk‘s dad or mum agency Novo Holdings and EQT Life Sciences, is at the moment within the late-stage growth of a remedy for hypoparathyroidism.

The deal, which incorporates an $800 million upfront fee and extra contingent fee of $250 million on reaching a specified regulatory milestone, is anticipated to shut by the third quarter of 2024.

In nearly a decade since AstraZeneca fended off a takeover by U.S. rival Pfizer, CEO Pascal Soriot has rebuilt the Anglo-Swedish drugmaker’s pipeline, which incorporates 13 blockbuster medicines – those who generate greater than $1 billion in annual gross sales.

Final month, Soriot mentioned it was a “good time” for the corporate to do offers. The deal for Amolyt comes amid a string of acquisitions together with a licensing deal late final 12 months that gave AstraZeneca an entry into the booming anti-obesity drug market.

Income from the corporate’s uncommon ailments portfolio, boosted by the $39 billion acquisition of Alexion in 2021, have additionally swelled in recent times, clocking practically $7.8 billion in 2023.

(Reporting by Eva Mathews in Bengaluru; Modifying by Savio D’Souza and Rashmi Aich)

  • Revealed On Mar 14, 2024 at 04:46 PM IST

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