AstraZeneca to acquire Fusion for $2 billion
March 19 2024 - 6:52AM
IH Market News
AstraZeneca plc (NASDAQ:AZN) announced on Tuesday that it will
acquire Fusion Pharmaceuticals Inc. for $21 per share or a total of
approximately $2 billion, “a 97% premium to Fusion’s closing market
price of $10.64 on 18th March 2024” in order to enhance its
oncology portfolio.
“Together with Fusion, we have an opportunity to accelerate the
development of FPI-2265 as a potential new treatment for prostate
cancer, and to harness their innovative actinium-based platform to
develop radioconjugates as foundational regimens,” AstraZeneca
Executive Vice President, Oncology R&D Susan Galbraith
said.
The transaction is expected to be completed in the second
quarter of 2024, with Fusion becoming a wholly-owned subsidiary of
AstraZeneca while maintaining its operations in the United States
and Canada.
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