AstraZeneca acquired ZS Pharma
AstraZeneca to acquire ZS Pharma for $90 per share.Acquisition includes potential best-in-class hyperkalaemia treatment currently under US FDA regulatory review, and is expected to contribute Product Sales from 2016 and benefit AstraZeneca’s return to growth strategy
AstraZeneca
announced on friday, November 6th, that it has entered into a definitive agreement to
acquire ZS Pharma (NASDAQ: ZSPH), a biopharmaceutical company based in
San Mateo, California. ZS Pharma uses its proprietary ion-trap
technology to develop novel treatments for hyperkalaemia (high potassium
levels), a serious condition of elevated potassium in the bloodstream,
typically associated with chronic kidney disease (CKD) and chronic heart
failure (CHF).
The transaction will give AstraZeneca access to
the potassium-binding compound ZS-9, a potential best-in-class treatment
for hyperkalaemia, a condition associated with increased mortality in
CKD and CHF. ZS-9 is under regulatory review by the US Food and Drug
Administration with a Prescription Drug User Fee Act goal date of 26 May
2016. A submission for European Marketing Application Authorisation is
planned by the end of 2015. Current estimates for global peak year sales
of ZS-9 exceed $1 billion.
The acquisition continues
AstraZeneca’s track record of targeted business development with a focus
on three main therapy areas. ZS Pharma represents a strong fit with
AstraZeneca’s pipeline and portfolio in Cardiovascular & Metabolic
Disease, one of the company’s three main therapy areas.
AstraZeneca’s
strategy focuses on reducing morbidity, mortality and organ damage by
addressing multiple risk factors across cardiovascular disease, diabetes
and chronic kidney disease. ZS-9 complements the company’s increasing
focus on CKD and CHF, including the investigational medicine roxadustat,
which is currently in Phase III development for patients with anaemia
associated with CKD, as well as its leading diabetes portfolio.
Pascal
Soriot, Chief Executive Officer of AstraZeneca, said: “Hyperkalaemia
can be a life-threatening condition for patients with chronic kidney
disease and chronic heart failure, however the risk is underappreciated
and prevalence is increasing. This acquisition complements our strategic
focus on Cardiovascular and Metabolic Disease by adding a potential
best-in-class treatment to our portfolio of innovative medicines. We
look forward to welcoming the ZS Pharma team to AstraZeneca.”
Under
the terms of the agreement, AstraZeneca will acquire all of the
outstanding capital stock of ZS Pharma for $90 per share in an all-cash
transaction, or approximately $2.7 billion in aggregate transaction
value.
Upon completion, ZS Pharma, which has around 200 employees
across three sites in California, Texas and Colorado, will become a
wholly owned subsidiary of AstraZeneca. The transaction does not impact
AstraZeneca’s financial guidance for 2015. It is expected to generate
Product Sales from 2016, with minimal earnings dilution over 2016 and
2017, becoming accretive to AstraZeneca’s core earnings from 2018.
Robert
Alexander, Chief Executive Officer, ZS Pharma, said: “This agreement
will allow us to maximize the potential of ZS-9, drawing on
AstraZeneca’s long-standing expertise in developing and commercializing
medicines for cardiovascular and metabolic diseases. We look forward to
joining AstraZeneca and to working together to bring this important
treatment for hyperkalaemia to the global market, helping to meet an
important unmet medical need for patients”.
Fuente: AstraZeneca Media Centre
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