AstraZeneca announced on January 9 that it would acquire CinCor Pharma, a U.S.-based clinical-stage biopharmaceutical company, for nearly $1.8 billion to strengthen its cardiovascular and renal drug pipeline. CinCor Pharma primarily focuses on developing treatments for hypertension and chronic kidney disease.
AstraZeneca stated that investors holding each share of CinCor will receive $26 in cash and a $10 non-transferable contingent value right per share, depending on the approval outcome of the company’s drug.