AstraZeneca's Rare-Disease Unit Buy Pfizer Portfolio for $1 Billion
20 September 2023 - 8:44AM
Dow Jones News
By Christian Moess Laursen
AstraZeneca's rare-disease unit Alexion has completed a purchase
and license agreement for early-stage rare-disease gene therapy
portfolio from Pfizer for a total consideration of $1 billion, the
Anglo-Swedish pharma giant said Wednesday.
"These new resources will build on the combined capabilities of
Alexion and AstraZeneca in genomic medicine, with the objective to
develop new genetic therapies with improved safety and efficacy
profiles," it said.
The consideration includes tiered royalties on sales. Several of
the Pfizer employees associated with the portfolio will join
Alexion as employees, it said.
Write to Christian Moess Laursen at christian.moess@wsj.com
(END) Dow Jones Newswires
September 20, 2023 02:29 ET (06:29 GMT)
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