AstraZeneca to Acquire CinCor Pharma for ~$1.8B
Shots:
- AstraZeneca to acquire CinCor’s outstanding shares for a price of $26/share in cash (~$1.3B at a premium of 121% over CinCor’s closing market price on Jan 2023) & non-tradable CVR of $10/share in cash upon regulatory submission of baxdrostat
- On a combined basis, incl. up front & CVR, the total transaction value of ~$1.8B at a 206% premium over CinCor's closing market price on the same date. The acquisition is expected to close in Q1’23 while CinCor holds the exclusive license globally to Farxiga (dapagliflozin), an SGLT2 inhibitor
- The acquisition will bolster AstraZeneca’s cardiorenal pipeline with the addition of CinCor’s baxdrostat (CIN-107) for blood pressure lowering in treatment-resistant hypertension
Ref: AstraZeneca| Image: CinCor Pharma
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Neha is a Senior Editor at PharmaShots. She is passionate and very enthusiastic about recent updates and developments in the life sciences and pharma industry. She covers Biopharma, MedTech, and Digital health segments along with different reports at PharmaShots. She can be contacted at connect@pharmashots.com.
