ISTANBUL
British-Swedish pharmaceutical firm AstraZeneca is planning to acquire French biotechnology firm Amolyt Pharma for $1 billion, the firm announced on Thursday.
The deal involves a total consideration of up to $1.05 billion, including an upfront payment of $800 million and a contingent payment upon achieving a “specified regulatory milestone.”
With the planned purchase, AstraZeneca’s Alexion, its rare diseases arm, will be further developed with a focus on bone metabolism, especially with the inclusion of eneboparatide, a new medication in the final testing phase, to be used for people with a rare hormone deficiency called chronic hypoparathyroidism.
“We believe this program, together with Amolyt’s talented team, expertise and earlier pipeline, will enable our expansion into rare endocrinology,” said Marc Dunoyer, the CEO of AstraZeneca Rare Disease.
“Subject to the satisfaction of customary closing conditions in the acquisition agreement, including regulatory clearances, the transaction is expected to close by the end of the third quarter of 2024,” according to the press release.
