AstraZeneca to Pay Up to $1.1 Billion for Vaccine Developer
- UK drugmaker offers $15 per share in cash for Icosavax
- Lead shot in development targets two respiratory ailments
Photographer: Jason Alden/Bloomberg
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AstraZeneca Plc agreed to buy Icosavax Inc. for as much as $1.1 billion to gain a developer of innovative vaccines for respiratory viruses.
Astra offered $15 in cash for each of Icosavax’s outstanding shares, a 43% premium to the latest close, it said in a statement Tuesday. The deal also includes a contingent value right of as much as $5 per share if experimental products reach certain regulatory and sales milestones.