AstraZeneca purchased through private placement US biotech company AlphaCore Pharma. AlphaCore is developing new cholesterol medication and its inclusion into the AstraZeneca portfolio only serves to boost its array of heart specific drugs and other interventions.
The move also showcases the company's CEO Pascal Soriot utilizing more scientific based risks in purchasing drug regimens stll new and unproven in the field of cardiovascular medication.
The details of the acquisition of AlphaCore Pharma's MedImmune Unit remain undisclosed. It is projected the payment made is modest as AstraZeneca was not required to disclose the purchase as a 'material investment'.
Soriot has plans to build AstraZeneca's drug supply through agreements and other deals as he tries to expand the product portfolio after many patent expiries occurred last year. AlphaCore would help in the company's recovery but the drug would not become available for the market immediately. Its first candidate would be ACP-501, the anti cholesterol drug.
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