AstraZeneca Accelerates Biologics Strategy With Acquisition Of MedImmune
This article was originally published in The Pink Sheet Daily
Following the merger, valued at roughly $15.6 billion, 27 percent of AstraZeneca’s portfolio will be in biologics.
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Deals announced by Sanofi and Novartis at this year’s virtual J.P. Morgan Healthcare Conference and a smattering of full-year revenue preannouncements did not mark a bumper start to the year.
MedImmune, the biologics arm of performance-challenged AstraZeneca, is poised to lead the parent company into more prosperous times, with positive signals coming from Phase II trials in oncology and asthma and a stake in cancer immunotherapies.
The UK-based pharma’s corporate venture arm now has $400 million under management in an evergreen fund, with an expanded global focus that includes health care information technology.