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AstraZeneca announced that it had acquired CinCor Pharma in exchange for an upfront cash consideration of approximately USD 1.8 billion.
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AstraZeneca, a biopharmaceutical firm, focuses on the development and commercialization of prescription medicines for oncology and rare diseases.
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The company said it would offer all CinCor shares at USD26 each to tender buyers.
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Additionally, there is a USD10 per-share non-tradeable contingent worth right.
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AstraZeneca stated that CinCor's acquisition would cost USD 1.8 billion.
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AstraZeneca will also acquire CinCor's marketable securities and cash as part of the transaction.