World Economy

$2.7b Cash Deal

$2.7b Cash Deal$2.7b Cash Deal

AstraZeneca Plc, the UK’s second-largest drugmaker, agreed to buy ZS Pharma of California for $2.7 billion in cash to gain a potential blockbuster medicine for a deadly condition, Bloomberg reported. ZS Pharma holders will get $90 per share, London-based AstraZeneca said in a statement. That’s a 42% premium to Thursday’s close. The board of the San Mateo, California-based drugmaker agreed to the transaction. Actelion Ltd. said in September it was in talks to buy ZS Pharma, which has no revenue yet. Its leading drug candidate ZS-9, a treatment for a life-threatening condition called hyperkalaemia, was submitted to the US Food and Drug Administration in May.