AstraZeneca said it will buy U.S.-based clinical-stage biopharmaceutical firm CinCor Pharma in a deal valued at about $1.8 billion
AstraZeneca said it will pay $26 per CinCor share in cash, a premium of nearly 121% to the stock's closing price on Friday.
The offer also includes a non-tradable contingent value right of $10 per share in cash payable upon a specified regulatory submission of CinCor's baxdrostat, which is being developed to treat cardiorenal diseases.Reporting by Radhika Anilkumar in Bengaluru; Editing by Savio D'Souza
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