Pharmaceutical company AstraZeneca announced this Thursday that it will acquire Ammolit Pharma, a company specializing in endocrine diseases, for $1.05 billion in cash, in an effort to strengthen its rare diseases portfolio.
French company Ammolit, backed by investors such as Novo Holdings, parent company of Danish pharmaceutical company Novo Nordisk, and EQT Life Sciences, is currently in the late stages of development of a therapy for hypoparathyroidism called aniboparatide.
The deal, which includes an upfront payment of $800 million and an additional contingent payment of $250 million upon completion of a specific regulatory milestone, is expected to close in the third quarter of 2024.
We recommend: Europe approves Pfizer drug for inflammatory bowel disease
AstraZeneca wants to expand its list of rare diseases
Revenue from AstraZeneca’s rare disease portfolio, boosted by its $39 billion acquisition of Alexion in 2021, has grown in recent years to about $7.8 billion in 2023.
Alexion Chief Executive Marc Dunoyer told Reuters in an interview that anibopertide, to be launched next year, has blockbuster potential.
In the nearly ten years since AstraZeneca avoided a takeover by US rival Pfizer, CEO Pascal Soriot has rebuilt the Anglo-Swedish drugmaker’s product portfolio, including 13 best-selling drugs – generating $1,000 million in annual sales. Produces most of the dollars.
Last month, Soriot announced that it was a “good time” for AstraZeneca to close deals, after a series of acquisitions, including a licensing deal late last year that gave it a growing anti-obesity market. Medicines were allowed to enter the market.
With information from EFE
Do you like to get information through Google News? Follow our Showcase to get the best stories
(tagstotranslate)Ammolit Pharma