Pharmaceutical giant AstraZeneca just made a $2.7 billion acquisition
REUTERS/Phil NobleA man walks past a sign at an AstraZeneca site in Macclesfield, central England May 19, 2014.
LONDON (Reuters) - Britain's AstraZeneca Plc said on Friday it had agreed to buy ZS Pharma, paying a total $2.7 billion for its proprietary technology to develop novel treatments for hyperkalaemia, or high potassium levels.
AstraZeneca said it had agreed to pay $90 a share for the San Mateo, California-based firm.
Hyperkalaemia is typically associated with chronic kidney disease and chronic heart failure, AstraZeneca said, adding that peak sales of the company's ZS-9 potassium-binding compound, which is under review by the FDA, were forecast to exceed $1 billion.
The transaction does not impact AstraZeneca's financial guidance for 2015. It is expected to generate Product Sales from 2016, with minimal earnings dilution over 2016 and 2017, becoming accretive to AstraZeneca's core earnings from 2018.
(Reporting by Paul Sandle; editing by Kate Holton)
No comments:
Post a Comment