AstraZeneca acquires US drug firm in multi-billion dollar deal

Multinational pharmaceutical company AstraZeneca is driving its growth strategy with the acquisition of US drug company ZS Pharma.

AstraZeneca, which has several sites across the North West, including a biologics facility in Liverpool and a packing centre in Macclesfield for its European operations, has agreed to purchase the Californian firm for approximately $2.7bn (£1.78bn).

The deal will give AstraZeneca access to ZS Pharma’s potassium-binding compound ZS-9 for treating hyperkalaemia, or high potassium levels.

AstraZeneca’s CEO, Pascal Soriot, 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.”

He added: “We look forward to welcoming the ZS Pharma team to AstraZeneca.”

Once the transaction is complete, ZS Pharma, which employs around 200 people over three sites in California, Colorado and Texas, will become a wholly owned AstraZeneca subsidiary.

The CEO of ZS Pharma, Robert Alexander, commented: “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.”

While the acquisition does not affect AstraZeneca’s financial guidance in 2015, the deal is expected to generate sales from 2016 onwards and contribute to the firm’s core earnings after three years.

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