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AstraZeneca in $4bn acquisition to take the fight to blood cancer
AstraZeneca in $4bn acquisition to take the fight to blood cancer
(about 14 hours later)
AstraZeneca has beefed up its arsenal of cancer-fighting drugs by buying a 55 per cent stake in the US biotech company Acerta Pharma in a $4bn (£2.7bn) deal.
AstraZeneca has beefed up its arsenal of cancer-fighting drugs by buying a 55 per cent stake in the US biotech company Acerta Pharma in a $4bn (£2.7bn) deal.
The British pharmaceutical giant gains a new drug called acalabrutinib, which can be used to treat blood cancers, with the acquisition.
The British pharmaceutical giant gains a new drug called acalabrutinib, which can be used to treat blood cancers, with the acquisition.
AstraZeneca will pay $2.5bn upfront for Acerta. When acalabrutinib is given regulatory approval by the American authorities next year, a further $1.5bn will be paid.
AstraZeneca will pay $2.5bn upfront for Acerta. When acalabrutinib is given regulatory approval by the American authorities next year, a further $1.5bn will be paid.
Pascal Soriot, the chief executive of AstraZeneca, said the agreement, the company’s third deal in weeks, is another example of its commitment to strengthening its oncology portfolio.
Pascal Soriot, the chief executive of AstraZeneca, said the agreement, the company’s third deal in weeks, is another example of its commitment to strengthening its oncology portfolio.
He said there were hopes that acalabrutinib could be “best in class” in the treatment of blood cancers. The side effects of the drug are also much easier to tolerate than those of other similar drugs.
He said there were hopes that acalabrutinib could be “best in class” in the treatment of blood cancers. The side effects of the drug are also much easier to tolerate than those of other similar drugs.
Mr Soriot also insisted that AstraZeneca was not having to buy other companies because its own drugs pipeline is falling short. “These deals are not substitutive – they are additional. We stand by our forecasts that we will have $45bn of revenue by 2023,” he said.
Mr Soriot also insisted that AstraZeneca was not having to buy other companies because its own drugs pipeline is falling short. “These deals are not substitutive – they are additional. We stand by our forecasts that we will have $45bn of revenue by 2023,” he said.
AstraZeneca has the option to buy the rest of Acerta – when the first approval of the cancer drug in both the US and Europe has been gained – for around $3bn. That means it could eventually pay as much as $7bn for the business.
AstraZeneca has the option to buy the rest of Acerta – when the first approval of the cancer drug in both the US and Europe has been gained – for around $3bn. That means it could eventually pay as much as $7bn for the business.
Scientists believe acalabrutinib, which is in the most advanced form of clinical trial, could have peak sales of more than $5bn a year globally. AstraZeneca is also keen to secure the expertise of Acerta’s 150 employees.
Scientists believe acalabrutinib, which is in the most advanced form of clinical trial, could have peak sales of more than $5bn a year globally. AstraZeneca is also keen to secure the expertise of Acerta’s 150 employees.
Acalabrutinib belongs to a class of drugs called Burton’s tyrosine kinase inhibitors that target blood cancers and could also help in auto-immune diseases such as lupus.
Acalabrutinib belongs to a class of drugs called Burton’s tyrosine kinase inhibitors that target blood cancers and could also help in auto-immune diseases such as lupus.
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Richard Parkes, an analyst at Deutsche Bank, said the deal could divide investors: “While significant clinical and commercial risks remain, the transaction could ultimately prove a stroke of genius, adding a multibillion-dollar potential drug launch in 2017 that could accelerate AstraZeneca’s re-emergence as a major force in oncology.”
Richard Parkes, an analyst at Deutsche Bank, said the deal could divide investors: “While significant clinical and commercial risks remain, the transaction could ultimately prove a stroke of genius, adding a multibillion-dollar potential drug launch in 2017 that could accelerate AstraZeneca’s re-emergence as a major force in oncology.”
The British pharmaceuticals company, which rejected a takeover bid from US giant Pfizer last year, is seeking to rebuild its portfolio amid intense competition from generic drug makers, as many of its key drugs are no longer under patent.
The British pharmaceuticals company, which rejected a takeover bid from US giant Pfizer last year, is seeking to rebuild its portfolio amid intense competition from generic drug makers, as many of its key drugs are no longer under patent.
In November, AstraZeneca agreed to buy America’s ZS Pharma for $2.7bn in cash, gaining a treatment for a deadly blood condition, and earlier this week the company secured a new lung disease treatment for its respiratory division from Japanese pharma giant Takeda for $575m.
In November, AstraZeneca agreed to buy America’s ZS Pharma for $2.7bn in cash, gaining a treatment for a deadly blood condition, and earlier this week the company secured a new lung disease treatment for its respiratory division from Japanese pharma giant Takeda for $575m.
