AstraZeneca boosts heart, kidney business with $1.8 bln CinCor deal

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AstraZeneca said on Monday it had struck a deal to buy U.S.-based drug developer CinCor Pharma Inc for up to $1.8 billion to increase its stock of heart and kidney drugs.

Core to the deal is CinCor's experimental therapy baxdrostat, which is in development to treat conditions including high blood pressure and chronic kidney disease.

Farxiga, whose sales jumped by almost 50% during the first nine months of 2022 to reach $3.2 billion, belongs to a highly competitive class of drugs that includes rivals such as Boehringer Ingelheim and Eli Lilly'sAstraZeneca gets about a third of its revenue from cancer drugs, but its heart, kidney and diabetes medicines are its second most lucrative business by sales, generating roughly $6.

In theory, a combination of baxdrostat with Farxiga could enable AstraZeneca to prolong its Farxiga franchise, Mene Pangalos, executive vice president of bioPharmaceuticals R&D at AstraZeneca, said.The Anglo-Swedish drugmaker on Monday agreed to pay $26 per CinCor share in cash, or $1.3 billion in total, a premium of nearly 121% to the U.S.-based company's closing price on Friday.

 

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first they damage us, then they sell us the cure

AstraZenecaUS still likes making money in Putins Russia. Do we really think their products are for the benefit of humans or is it to make as much money as possible?

Welcome to OPEL ASTRA Zeneca 🤡

Obviously it will boost the heart , kidney business.. n we know why..!!!

Key word here.... 'Business'.... 🤔

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