AstraZeneca to Buy LogicBio Therapeutics for $68 Million
03 October 2022 - 10:57PM
Dow Jones News
By Colin Kellaher
LogicBio Therapeutics Inc. on Monday said it agreed to be
acquired by AstraZeneca PLC for about $68 million in a deal
supporting the Anglo-Swedish pharmaceutical giant's growth in
genomic medicines.
AstraZeneca said it agreed to pay $2.07 a share in cash for
LogicBio, more than seven times Friday's closing price of about
27.3 cents for the Lexington, Mass., genetic-medicine company.
AstraZeneca is acquiring LogicBio through Alexion, which it
bought last year in a $39 billion deal aimed at expanding its
offering of treatments for rare diseases.
Shares of LogicBio, which said it expects the deal to close in
four to six weeks, surged to $2.01 in premarket trading.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
October 03, 2022 07:42 ET (11:42 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.
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