AstraZeneca expands cardiorenal portfolio, snapping up CinCor Pharma

9 January 2023

After an active M&A year in 2022, UK pharma major AstraZeneca (LSE: AZN) kicked off 2023 with an agreement to acquire USA-based clinical stage biotech CinCor Pharma (Nasdaq: CINC), in deal that could cost it as much as $1.8 billion.

CinCor investors were thrilled with the news, sending its shares rocketing 134% to $27.59 in pre-market activity this morning.

AstraZeneca says the acquisition will bolster its cardiorenal pipeline by adding CinCor’s candidate drug, baxdrostat (CIN-107), an aldosterone synthase inhibitor (ASI) for blood pressure lowering in treatment-resistant hypertension. Late last year, CinCor reported a Phase II trial miss for the drug as a treatment for people with uncontrolled hypertension taking up to two blood pressure medications at the maximally tolerated doses and the firm’s share plummeted.

This article is accessible to registered users, to continue reading please register for free. A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user please login. If your trial has come to an end, you can subscribe here.

Try before you buy

Free

7 day trial access

Take a Free Trial

All the news that moves the needle in pharma and biotech
Exclusive features, podcasts, interviews, data analyses and commentary from our global network of life sciences reporters.
Receive The Pharma Letter daily news bulletin, free forever.

Become a subscriber

£820

Or £77 per month

Subscribe Now

Unfettered access to industry-leading news, commentary and analysis in pharma and biotech.
Updates from clinical trials, conferences, M&A, licensing, financing, regulation, patents & legal, executive appointments, commercial strategy and financial results.
Daily roundup of key events in pharma and biotech.
Monthly in-depth briefings on Boardroom appointments and M&A news.
Choose from a cost-effective annual package or a flexible monthly subscription

The Pharma Letter is an extremely useful and valuable Life Sciences service that brings together a daily update on performance people and products. It’s part of the key information for keeping me informed

Chairman, Sanofi Aventis UK