Anglo-Swedish pharmaceutical giant AstraZeneca on Monday agreed to buy US biotech company CinCor for $1.8 billion, expanding further into heart and kidney drugs.
The takeover marks the latest attempt by Astra chief executive Pascal Soriot to strengthen the COVID vaccine maker’s new product manufacturing systems.
Massachusetts-based CinCor is focused on developing treatments for high blood pressure and chronic kidney disease.
Since taking the helm of AstraZeneca in 2012, Frenchman Soriot has expanded the company into lucrative cancer therapies.
The group finished a blockbuster movie Undertake of Alexion for $39 billion by 2021, giving it more power in areas like treating blood disorders.
© 2023 AFP
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