LONDON (Alliance News) - Pharmaceutical giant AstraZeneca PLC said Thursday it has agreed to acquire a majority stake in Dutch and US biopharmaceutical company Acerta Pharma BV.
AstraZeneca will pay an initial USD2.5 billion upfront for a 55% stake in Acerta. A further USD1.5 billion will be paid either when Acerta's cancer drug acalabrutinib is approved in the US for any indication, or the end of 2018, whichever is first.
The agreement also includes options which, if exercised, would allow Acerta shareholders to sell and AstraZeneca to buy the remaining 45% stake in Acerta, at a price of around USD3 billion.
The initial USD2.5 billion will be funded from cash and debt, and the acquisition is expected to be "moderately dilutive" to AstraZenenca's core earnings in the near term.
AstraZeneca said it will provide full-year guidance for 2016 at its 2015 results on February 4.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
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Astrazeneca (AZN)