AstraZeneca reaches deal to buy CinCor Pharma for up to $1.8 billion

AstraZeneca entered into a definitive agreement Monday to acquire CinCor Pharma Inc. for up to $1.8 billion. CinCor (NASDAQ: CINC), based in Waltham, Massachusetts, is developing new treatments for hypertension and chronic kidney disease. The company ’s stock was up 137% at $27.91 per share in early morning trading. The deal, which still requires shareholder and regulatory approval, is expected to be completed during the first quarter of this year. CinCor raised $193.6 million with its Nasdaq…
Source: bizjournals.com Health Care News Headlines - Category: Health Management Authors: Source Type: news