AstraZeneca to buy American Fusion for $ 2.4 billion

By Alimat Aliyeva

The pharmaceutical company AstraZeneca has reached an agreement to acquire American Fusion Pharmaceuticals, specializing in the development of radiopharmaceuticals, Azernews reports, citing foreign media outlets.

AstraZeneca will pay $21 in cash for a Fusion share. The agreement provides for additional payments of up to $3 per share when certain indicators are reached. The total amount of the transaction is estimated at $ 2.4 billion.

Fusion quotes ended Monday's trading at $10.64 per paper. Over the past 12 months, the company's capitalization has grown by more than 2.5 times (by 165%) on expectations that it may become a target for takeover by larger players in the sector.

The deal is expected to close before the end of the second quarter.