AstraZeneca unit in $1B deal with Pfizer for gene therapies
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AstraZeneca (NASDAQ:AZN) unit Alexion announced Friday an agreement with Pfizer (NYSE:PFE) to acquire several preclinical gene therapy programs and technologies targeted at rare diseases in a deal worth up to $1B.
Following the agreement, Alexion will take ownership of a group of adeno-associated virus (AAV) capsids, which are used to deliver genetic material during the development of gene therapies and gene editing medicines.

Arguing that genetic mutations are believed to be responsible for 80% of known rare diseases, Alexion said that genomic medicines that are designed to target defective genes are essential to treat rare diseases.
Per the terms, Alexion will purchase and license the assets for a total consideration of up to $1B in addition to tiered royalties on sales. The transaction is expected to close in Q3 2023.
The deal was announced in conjunction with AstraZenecaâs (AZN) Q3 2023 results, which came ahead of Street forecasts.



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