6th Nov 2015 07:19
LONDON (Alliance News) - Drugmaker AstraZeneca PLC on Friday said it has struck a deal to acquire ZS Pharma for around USD2.7 billion in order to further strengthen its cardiovascular and metabolic disease franchise.
The FTSE 100-listed pharmaceutical giant said it will pay USD90 per share to buy California-based ZS in an all-cash deal. The deal will not impact on its AstraZeneca's 2016 financial guidance, it said, but is expected to add to product sales, before becoming earnings accretive by 2018, with minimal earnings dilution expected in the interim.
The deal will add potassium-binding compound ZS-9 to AstraZeneca's portfolio. The compound is a potential best-in-class treatment for hyperkalaemia, a serious condition of elevated potassium in the bloodstream, typically associated with chronic kidney disease and chronic heart failure.
"Hyperkalaemia can be a life-threatening condition for patients with chronic kidney disease and chronic heart failure. However the risk is under-appreciated and prevalence is increasing. This acquisition complements our strategic focus on Cardiovascular and Metabolic Disease by adding a potential best-in-class treatment to our portfolio of innovative medicines," said AstraZeneca Chief Executive Pascal Soriot.
By Sam Unsted; [email protected]; @SamUAtAlliance
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