AZN - What AstraZeneca Is Getting Through The Acquisition Of Fusion Pharmaceuticals

2024-03-19 13:15:03 ET

Summary

• AstraZeneca is acquiring Fusion Pharmaceuticals for up to $2.4 billion to expand its presence in the radiopharmaceuticals market.
• The acquisition includes Fusion's late-stage radiopharmaceutical candidate, FPI-2265, a potential treatment of metastatic castration-resistant prostate cancer.
• AstraZeneca also will gain Fusion's manufacturing operations and expertise, two early-stage clinical candidates, and full rights to FPI-2068, a phase 1-ready candidate.
• The majority of Fusion shareholders are getting a satisfying exit.

AstraZeneca ( AZN ) announced it will acquire Fusion Pharmaceuticals ( FUSN ) for $21 per share, or approximately $2 billion, plus a contingent value right (‘CVR’) of $3 per share payable upon the achievement of a specified regulatory milestone, which brings the total potential value to approximately $2.4 billion and premiums to Fusion’s closing price yesterday of 97% and 126%, respectively. The deal is expected to close next quarter....

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