AstraZeneca bets up to $1.8B on CinCor and its ex-Roche drug for hypertension
CinCor Pharma’s hypertension drug may have failed a Phase II study, but that doesn’t scare AstraZeneca.
The pharma giant is wagering up to $1.8 billion for CinCor and its lead drug baxdrostat, a revived Roche drug licensed in 2019. The total upfront would be $1.3 billion, or a 121% premium on CinCor’s Jan. 6 closing price — an offer that could balloon to $1.8 billion including the contingent value right (CVR), which hinges on the “specified regulatory submission of a baxdrostat product.”
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