AstraZeneca’s rare disease division acquires Pfizer gene therapies in a $1 billion deal.

AstraZeneca's rare disease division acquires Pfizer gene therapies in a $1 billion deal.

AstraZeneca’s Alexion Unit Acquires Pfizer’s Rare Disease Gene Therapy Portfolio

In a move to further solidify its position in the field of genetic therapies, AstraZeneca’s Alexion unit has agreed to acquire Pfizer’s early-stage rare disease gene therapy portfolio for up to $1 billion, plus royalties on sales. This comes as AstraZeneca continues to bet on innovative genetic therapies in its quest to provide better treatment options for patients with rare diseases.

The acquisition includes a number of novel adeno-associated virus (AAV) capsids, which have been proven to be effective in delivering therapeutic gene cargos for gene therapy and gene editing. This deal not only strengthens Alexion’s capabilities in genomic medicine but also complements AstraZeneca’s existing expertise in rare diseases.

AstraZeneca’s strategic move to acquire Pfizer’s gene therapy portfolio follows other recent acquisitions in the field. Last October, the company purchased U.S.-based gene therapy developer LogicBio Therapeutics for $68 million, at a significant 660% premium. This demonstrates the increasing interest of major pharmaceutical companies, including AstraZeneca, Merck & Co, and AbbVie, in acquiring smaller biotech companies with promising research and development pipelines.

The acquisition of Pfizer’s gene therapy portfolio is a significant win for AstraZeneca, as it continues to expand its capabilities in rare diseases and reinforces its commitment to delivering innovative genetic therapies. The British pharmaceutical giant had previously acquired Alexion for $39 billion in 2021, with a strategic focus on rare diseases. This deal with Pfizer not only enhances Alexion’s portfolio but also positions AstraZeneca as a key player in the field of genomic medicine.

In addition to the acquisition, AstraZeneca announced a leadership change within its research and development team. Sharon Barr, currently the head of research and development at Alexion, will succeed Mene Pangalos, who has been the longtime head of biopharmaceuticals research at AstraZeneca. Pangalos gained recognition as the public face of the company’s COVID vaccine efforts.

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The acquisition of Pfizer’s gene therapy portfolio is expected to be concluded in the third quarter, following the necessary approvals and regulatory processes. This strategic move showcases AstraZeneca’s commitment to exploring new treatment options and driving advancements in the field of genetics.

Separately, AstraZeneca reported better-than-expected profits and sales in the second quarter. Despite the decline in COVID vaccine sales, the strong performance of its blockbuster cancer drugs helped offset the loss. This highlights the company’s diversified portfolio and its ability to adapt to changing market dynamics.

In conclusion, AstraZeneca’s acquisition of Pfizer’s early-stage rare disease gene therapy portfolio marks a significant step in the company’s pursuit of innovative genetic therapies. With the addition of novel AAV capsids and a talented research and development team, AstraZeneca is well-positioned to continue delivering promising treatment options for patients with rare diseases. This strategic move reflects the company’s commitment to exploring the potential of genomic medicine and reinforces its position as a leader in the healthcare industry.

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