AstraZeneca to Acquire Amolyt Pharma for $1.05 Bn to Boost Rare-Disease Portfolio

This acquisition of Amolyt backed by EQT Life Sciences is expected to strengthen Alexion, AstraZeneca's rare disease arm.

Global drugmaker AstraZeneca has set foot to acquire rare endocrine diseases-focused firm Amolyt Pharma for $1.05 billion in cash, to boost its pipeline for rare diseases, particularly hypoparathyroidism.

Amolyt is currently in the late-stage development of a therapy for hypoparathyroidism, a deficiency in parathyroid hormone production that can lead to chronic kidney disease.

On the deal, Thierry Abribat, CEO, Amolyt Pharma, said: “We enthusiastically welcome the proposed acquisition of Amolyt by AstraZeneca, an organization that shares our dedication to delivering life-changing treatments to people living with rare diseases.”

Reportedly, the deal is expected to close by the end of the third quarter of 2024.

More on The Acquisition Deal

According to the Swedish drugmaker, hypoparathyroidism affects 115,000 people in the US and 107,000 people in the European Union, approximately 80% of whom are women.

Sharing thoughts, Marc Dunoyer, CEO, Alexion, AstraZeneca Rare Disease, said, “We believe this program, together with Amolyt’s talented team, expertise, and earlier pipeline, will enable our expansion into rare endocrinology.”

Chronic hypoparathyroid patients face a significant need for an alternative to current supportive therapies, which do not address the underlying hormone deficiency, he noted.

This acquisition of Amolyt, which is backed by investors including Danish drugmaker Novo Nordisk's parent firm Novo Holdings and EQT Life Sciences is expected to strengthen Alexion, AstraZeneca's rare disease arm, the company noted.

Per the deal, AstraZeneca will acquire all of Amolyt Pharma’s outstanding shares for $1.05 billion, including an $800 million upfront payment and an additional $250 million upon achievement of a specified regulatory milestone.

Over the past decade, AstraZeneca, under the leadership of CEO Pascal Soriot, has diligently fortified its pipeline, boasting an array of 13 blockbuster medications—each generating annual sales surpassing $1 billion.

Soriot recently remarked that the company is strategically poised for deal-making opportunities, a sentiment affirmed by a series of strategic acquisitions.

Notably, AstraZeneca's recent acquisition of Amolyt underscores its proactive approach, complementing previous ventures such as a licensing agreement that granted entry into the thriving anti-obesity pharmaceutical sector.

Bolstered by the $39 billion acquisition of Alexion in 2021, revenue from the company's rare diseases portfolio has witnessed substantial growth, reaching nearly $7.8 billion in 2023.

AstraZeneca’s Latest Deals

The Anglo-Swedish drugmaker has been on a buying spree since early last year.

It acquired the preclinical rare disease gene therapy program portfolio from Pfizer for $1 billion. In September, Alexion partnered with USA's Verge Genomics in an $840 million+ deal. The collaboration aimed to discover novel drug targets for rare neurodegenerative and neuromuscular diseases.

Looking back, the British-Swedish Pharma Giant also forged a partnership deal with BenevolentAI to revolutionize drug discovery by harnessing the power of AI.

Founded in 1999, through the merger of the Swedish Astra AB and the British Zeneca Group, the pharmaceutical biotechnology company aims to transform the lives of people affected by rare diseases.

However, in 2023, AstraZeneca acquired Alexion, forming its rare disease-focused sector. This acquisition allowed AstraZeneca to enhance its scientific presence in immunology and continue to develop medicines for patients with rare diseases.