14th Dec 2015 06:32
NEW BRUNSWICK (Alliance News) - AstraZeneca PLC is in advanced talks to acquire closely-held biotech company Acerta Pharma BV for more than USD5 billion, the Wall Street Journal reported Friday, citing people familiar with the matter.
According to the WSJ report, the two companies plan to announce a deal in December. Acerta does not currently have any drugs on the market, though its lead cancer compound, acalabrutinib, is said to have shown promise in early clinical trials.
Acerta's blood-cancer drug is similar to the leukemia drug Imbruvia from AbbVie Inc and Johnson & Johnson, that is expected by analysts to be a multi-billion dollar seller. Based in California and the Netherlands, the company develops drugs to treat different types of cancer and autoimmune diseases.
In early November, AstraZeneca said it has agreed to acquire California-based biopharmaceutical company ZS Pharma Inc in a deal valued at USD2.7 billion.
Copyright RTT News/dpa-AFX
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