Daily Management Review

AstraZeneca to buy China's Gracell for $1.2B


Chinese biotech Gracell Biotechnologies will be acquired by Swedish-British company AstraZeneca for a reported $1.2 billion.

Cheshire East Council
Cheshire East Council
In total, AstraZeneca will pay $1 billion, plus an additional $200 million upon the achievement of specific regulatory requirements.

It is anticipated that the deal would finalize in 2024's first quarter. The Swedish-British business hopes to improve its standing in the field of autoimmune and cancer cell treatment through it.

AstraZeneca will acquire Gracell as a 100% subsidiary, and Gracell will operate in both China and the US.

source: bloomberg.com