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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