AstraZeneca to buy Amolyt Pharma for $1.05 Billion to Boost Rare-Disease Portfolio

Drugmaker AstraZeneca announced on Thursday its intention to acquire Amolyt Pharma, a company specializing in endocrine diseases, for a hefty sum of $1.05 billion in cash. This strategic move is aimed at bolstering AstraZeneca’s portfolio in rare diseases, signaling the company’s commitment to diversifying its offerings.

Amolyt Pharma, based in France and supported by notable investors such as Novo Nordisk and EQT Life Sciences, is currently in the advanced stages of developing a therapy called eneboparatide for hypoparathyroidism. This therapy holds significant promise in addressing this medical condition, which affects the body’s ability to regulate calcium levels.

The acquisition deal structure comprises an $800 million upfront payment along with an additional contingent payment of $250 million upon reaching a specific regulatory milestone. The transaction is slated to conclude by the third quarter of 2024.

AstraZeneca’s rare diseases portfolio has witnessed substantial growth, particularly following its acquisition of Alexion for $39 billion in 2021, with revenues reaching nearly $7.8 billion in 2023.

Eneboparatide, currently undergoing Phase III trials, is anticipated to yield results next year, potentially paving the way for its commercial launch. Marc Dunoyer, CEO of Alexion, expressed confidence in the therapy’s blockbuster potential, forecasting annual sales exceeding $1 billion.

AstraZeneca’s recent acquisitions underscore its proactive approach to expanding its pipeline and diversifying its offerings. Notably, the company purchased Pfizer’s early-stage rare disease gene therapy portfolio and LogicBio Therapeutics, demonstrating its commitment to innovation and addressing unmet medical needs.

Under the leadership of CEO Pascal Soriot, AstraZeneca has undergone a significant transformation since fending off a takeover bid by Pfizer nearly a decade ago. Soriot’s strategic vision has led to the development of a robust pipeline, including 13 blockbuster medicines.

Soriot’s recent remarks suggest that AstraZeneca is poised for further growth through strategic deals, aligning with its overarching goal of addressing various therapeutic areas and tapping into emerging markets such as the anti-obesity drug market.

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