AstraZeneca to buy US-listed Fusion Pharma for $2bn
By Frank Prenesti
Date: Tuesday 19 Mar 2024
(Sharecast News) - AstraZeneca said it had agreed to buy biopharmaceutical company Fusion Pharmaceuticals for up to $2bn.
Fusion specialises in radioconjugates, which combine the precise targeting of antibodies, small molecules or peptides with potent medical radioisotopes to deliver radiation directly to cancer cells.
AstraZeneca will pay $21 a share for Fusion, a premium of more than 97% to the US-listed company's closing price on Monday and a non-transferable contingent value right of $3 per share, taking the combined transaction value to about $2.4bn.
Reporting by Frank Prenesti for Sharecast.com
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