AstraZeneca rises on deal to buy US-based Icosavax

Icosavax

12/12/2023 09:37

** Shares of drugmaker AstraZeneca PLC  AZN.L  up 1.7% at
10,270p amid a wider upbeat market
    ** Co to buy US-based vaccine developer Icosavax Inc
 ICVX.O  in a deal valued at up to $1.1 billion
    ** Shares of ICVX up 45.4% at $15.25 in premarket trading
    ** Deal to bolster AstraZeneca's respiratory syncytial virus
(RSV) vaccine portfolio
    ** Deal values ICVX at $15 per share in cash at closing,
plus a non-tradable contingent value right for up to $5 per
share in cash if certain milestones are met
    ** Shares of AZN down 8.6% YTD
    ** As of last close, ICVX up 32.1% YTD

 (Reporting by Saikeerthi in Bengaluru)
 ((Saikeerthi@thomsonreuters.com;))