AstraZeneca buys Chinese cancer therapy firm Gracell for $1.2bn

Gracell Biotechnologies acquisition marks China ’s growing importance to the Anglo-Swedish drugmakerAstraZeneca has struck a deal to buy a Chinese cancer therapy company for up to $1.2bn ( £950m), as Britain’s biggest drugmaker expands its footprint in its second-largest market.The Anglo-Swedish pharmaceutical firm announced on Tuesday it would acquire Gracell Biotechnologies, which is focused on a type of cancer therapy known as CAR-T that modifies a patient ’s cells to fight the disease.Continue reading...
Source: Guardian Unlimited Science - Category: Science Authors: Tags: AstraZeneca Mergers and acquisitions UK news Business Pharmaceuticals industry Health Medical research Cancer Cancer research China Asia Pacific World news Source Type: news