By Ian Walker

AstraZeneca said it would buy U.S.-based clinical-stage biopharmaceutical company Icosavax for up to $1.1 billion in a deal that expands its vaccines and immune therapies late-stage pipeline.

The pharmaceutical giant is offering $15 for each Icosavax share held, a 43% premium to its closing market price of $10.49 on Monday.

An extra $5.00 a share in cash could be paid depending upon certain regulatory and sales milestones being met.

Write to Ian Walker at ian.walker@wsj.com

(END) Dow Jones Newswires

December 12, 2023 02:32 ET (07:32 GMT)

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