AstraZeneca to buy ZS Pharma for $2.7 Billion in Cash Deal
Friday, November 06, 2015
AstraZeneca Plc, the U.K.’s second-largest drugmaker, agreed to buy ZS Pharma of California for $2.7 billion in cash to gain a potential blockbuster medicine for a deadly condition.
ZS Pharma holders will get $90 per share, London-based AstraZeneca said in a statement. That’s a 42 percent premium to yesterday’s close. The board of the San Mateo, California-based drugmaker agreed to the transaction.
Actelion Ltd. said in September it was in talks to buy ZS Pharma, which has no revenue yet. Its leading drug candidate ZS-9, a treatment for a life-threatening condition called hyperkalaemia, was submitted to the U.S. Food and Drug Administration in May. The stock began trading in June 2014 following a $112 million initial public offering and raised an additional $174 million in a March share sale.
bloomberg.com
