AstraZeneca to buy FibroGen's China unit for $160 million (updated)

Kyntra Bio

20/02/2025 12:04

(Adds details and background from paragraphs 2 onwards)
       Feb 20 (Reuters) - AstraZeneca  AZN.L  will buy U.S.
biotech firm FibroGen's  FGEN.O  China unit for about $160
million, in its latest deal to boost its presence in the country
despite growing US-China trade tensions.
    Fibrogen said the deal will give AstraZeneca full rights to
its anemia drug roxadustat in China.
    In December, AstraZeneca, which got about 12% of its 2024
sales from China, said it would buy Gracell Biotechnologies for
up to $1.2 billion in the country.
    The dealmaking comes despite AstraZeneca facing a string of
investigations into its executives and activities in the
country.
    FibroGen said it expects the deal to close by mid-2025,
pending conditions, including a regulatory review in China.

 (Reporting by Sneha S K; Editing by Shailesh Kuber and Savio
D'Souza)
 ((Sneha.SK@thomsonreuters.com;))