LONDON (AFP) – Anglo-Swedish pharmaceuticals giant AstraZeneca agreed yesterday to buy United States biopharma firm Fusion for up to USD2.4 billion, its latest expansion into cancer treatments.
Fusion is developing next-generation radiotherapy to treat cancer.
AstraZeneca’s latest push into oncology comes after its net profit almost doubled to USD6 billion last year as a strong cancer division helped offset a wipeout for sales of its COVID-19 treatments.
“AstraZeneca has entered into a definitive agreement to acquire Fusion Pharmaceuticals Inc, a clinical-stage biopharmaceutical company,” the London-listed group said in a statement.
