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.