"AstraZeneca's $1.05B Acquisition Bolsters Rare Disease Portfolio"
AstraZeneca has announced its acquisition of Amolyt Pharma for $1.05 billion in cash, aiming to bolster its rare diseases portfolio. The deal includes an $800 million upfront payment and a contingent payment of $250 million upon achieving a specified regulatory milestone. Amolyt Pharma is currently in late-stage development of a therapy for hypoparathyroidism. AstraZeneca's rare diseases portfolio, bolstered by the acquisition of Alexion in 2021, has seen significant revenue growth. The Phase III trial results for Amolyt's therapy are expected next year, with potential for blockbuster sales. AstraZeneca's CEO has been actively pursuing acquisitions to strengthen the company's pipeline.