AstraZeneca to expand cancer pipeline with $2.4B acquisition

Pharmaceutical company AstraZeneca plans to acquire biotech company Fusion Pharmaceuticals for up to $2.4 billion, Investopedia reported March 19. 

The acquisition will cost around $2 billion at $21 per share, with an additional $400 million to be paid to Fusion if the biotech firm satisfies specific requirements. 

This move is part of AstraZeneca's cancer treatment pipeline expansion, as Fusion is focused on next-generation radioconjugates that kill cancer cells more accurately than chemotherapy, reducing risk for healthy cells.

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