AstraZeneca to buy China's Gracell Biotechnologies in $1.2 bilion Deal
KONTAN.CO.ID - REUTERS - AstraZeneca AZN.L said on Tuesday it will buy Gracell Biotechnologies GRCL.O for up to $1.2 billion as the Anglo-Swedish pharma company furthers its cell therapy ambitions and boosts its presence in China, the world's second-largest pharmaceuticals market.
The cash deal, which adds several experimental therapies to AstraZeneca's portfolio, values Gracell at $2 per ordinary share, or $10 per American Depository Share, of Gracell, representing a premium of 61.6% from its last close on Dec. 22.
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