Published By : 09 Nov 2015 | Published By : QYRESEARCH
Noted as another major business acquisition in the global pharmaceuticals industry, AstraZeneca has announced that it is buying ZS Pharma. The takeover will allow AstraZeneca to strengthen its portfolio on metabolic diseases as well as cardiovascular diseases.
A deal of US$2.7 bn was agreed upon by both companies. According to experts, that breaks down into US$90 for each share.
The announcement was made mere weeks after the rumors that ZS Pharma was about to be acquired by Actelion.
Labs owned by ZS Pharma were in the midst of research and development efforts on creating treatments for hyperkalemia. If the treatment option is approved by the FDA, sales made through the treatment could fetch the company more than US$1 bn per year.
Pascal Soirot, the Chief Executive Officer for AstraZeneca, recently made a statement regarding the acquisition of ZS Pharma by AstraZeneca. He stated that the takeover helps AstraZeneca complement its strategic efforts to put more focus on metabolic diseases as well as cardiovascular diseases. This is hoped to be achieved by introducing to the market a treatment that is potentially best in its class and add it to the AstraZeneca innovative medicines’ portfolio.
As stated on the website owned by AstraZeneca, the acquisition of ZS Pharma is expected to be complete before the end of the current year. AstraZeneca has also revealed that it has hopes on the deal to be able to kick start its reemergence and improve its growth pattern to be recognized as a core company and a leader in the global pharmaceutical industry.