Reported 1 day ago
AstraZeneca is set to acquire FibroGen's China unit for approximately $160 million, gaining rights to its anemia drug, Evrenzo, as it seeks to strengthen its foothold in China amidst ongoing investigations. Despite regulatory challenges, AstraZeneca is still expanding in the region, buoyed by previous licensing deals and the acquisition of Gracell Biotechnologies. FibroGen plans to use the proceeds to repay loans and ensure its financial stability through 2027, with the deal expected to finalize by mid-2025, subject to regulatory approvals.
Source: YAHOO