Prognosis
Astra Strikes $1 Billion Pfizer Deal, Dismisses Trial Concerns
- UK pharma company will buy portfolio of rare disease products
- CEO Soriot brushes off concerns over lung trial in interview
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AstraZeneca Plc has agreed to buy a portfolio of rare disease gene therapies from Pfizer Inc. as the UK drug company looks to the future for its next areas of revenue and growth.
The agreement with Pfizer is worth up to $1 billion plus tiered royalties on sales and should complete in the third quarter, the company said Friday. The deal builds on Astra’s already substantial investment in its rare disease business since purchasing Alexion for $39 billion in 2021.