AstraZeneca bets on next-generation cancer therapy with $2 billion Fusion deal

Published on 19 Mar 2024 on Reuters via Yahoo Finance

AstraZeneca bets on next-generation cancer therapy with $2 billion Fusion deal

By Yadarisa Shabong and Manas Mishra

(Reuters) -AstraZeneca said on Tuesday it will buy Canadian drug developer Fusion Pharmaceuticals Inc for $2 billion in cash as the Anglo-Swedish drugmaker bets on next-generation cancer treatments.

The deal gives AstraZeneca a foothold in the radiopharmaceutical drugs market, which has seen increasing investor interest since 2021 when data from Novartis' treatment showed that the drug extended survival for prostate cancer patients.

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AstraZeneca bets on next-generation cancer therapy with $2 billion Fusion deal

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