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AstraZeneca looks to bag Imbruvica rival in $5B-plus Acerta buyout
British-based drug maker AstraZeneca is in advanced talks to acquire US biotech company Acerta Pharma, The Wall Street Journal reported, saying the price tag could exceed $5 billion.
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Four days after Acerta Pharma quietly posted some promising early-stage data on its Bruton’s tyrosine kinase (Btk) inhibitor acalabrutinib, AstraZeneca ($AZN) has popped up as a potential buyer.
“There can be no certainty that any transaction will ultimately be entered into, or as to the terms of any transaction”. The drug is in two phase III trials, including a head-to-head study against ibrutinib in previously-treated patients with high-risk CLL. (NYSE:ABBV) and Johnson & Johnson’s (NYSE:JNJ).
Tested in 65 patients, investigators reported that acalabrutinib (ACP-196) garnered an impressive 95% response rate among patients with relapsed chronic lymphocytic leukemia, a common form of adult leukemia.
Earlier this month, the company said it is also testing acalabrutinib for the autoimmune disease rheumatoid arthritis.
AstraZeneca, which rejected a takeover bid from United States giant Pfizer previous year, is seeking to rebuild its portfolio of exclusive medicines amid intense competition from generic drugmakers.
In November, the company agreed to pay $2.7 billion for ZS Pharma Inc., mainly for its cardiovascular compound. Its new lung cancer pill Tagrisso, which it believes could sell $3 billion a year, was approved last month and the company also recently launched Lynparza for ovarian cancer.
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The biggest hopes are pinned on oncology, however, where AstraZeneca already has a goal of bringing six new cancer treatments to market by 2020. Astra shares have declined 5.50% so far in the year.