AstraZeneca’s acquisition of Amolyt Pharma for $1.05 billion is a big step toward growing its rare disease portfolio. Amolyt Pharma, a French biotech business, focuses on finding medicines for uncommon endocrine illnesses.
This acquisition is consistent with AstraZeneca’s strategic objective of expanding its portfolio and increasing its footprint in the rare disease space. AstraZeneca said hypoparathyroidism affects 115,000 people in the U.S. and 107,000 people in the European Union, approximately 80% of whom are women.
According to the terms of the agreement, AstraZeneca will pay $1.05 billion for all of Amolyt Pharma’s outstanding shares, including a $800 million upfront payment and an extra $250 million upon meeting a specific regulatory milestone.
AstraZeneca expects the deal to close by the end of the third quarter 2024.
