Pharma
AstraZeneca to buy Fusion Pharma for $2.4bn
Deal marks a return to Astra chief Pascal Soriot’s core focus on oncology
AstraZeneca has agreed to buy Fusion Pharmaceuticals for as much as $2.4 billion (€2.2 billion) as European drugmakers continue their spree of deals of promising biotech companies.
The UK-based drug company said it will pay $21 a share for Fusion, or $2 billion in cash upfront, plus a further $400 million depending on milestones being achieved. The full amount equates to a premium of 126 per cent to Fusion’s closing price on Monday.
Fusion is ...