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Company News, Business, Economy, Health

TomTom cuts 300 jobs

The firm said it was realigning its organization as it embraces AI.

Aldar nets $953m in sales at Fahid

Aldar said 42 percent of the buyers are under the age of 45.

Qualcomm to Alphawave for $2.4 bn

The deal makes Alphawave the latest tech company to depart London.

Equinor signs $27 bn gas deal

The 10-year contract was signed with Centrica.

ADNOC Drilling secures $1.15bn contract

The contract for two jack-up rigs begins in the second quarter.

AstraZeneca buys US firm CinCor

AstraZeneca forecast that total revenues would climb between one and five percent this year. (AFP)
By TRENDS Desk AFP
January 9, 2023 4:59 pm
  • The takeover marks the latest push by Astra chief executive Pascal Soriot to bolster the company's pipeline of new products.
  • Massachusetts-based CinCor focuses on developing treatments for hypertension and chronic kidney disease.

LONDON, UK –  Anglo-Swedish pharmaceuticals giant AstraZeneca on Monday agreed to buy US biotech company CinCor for US$1.8 billion, expanding further into the field of heart and kidney drugs.

The takeover marks the latest push by Astra chief executive Pascal Soriot to bolster the company’s pipeline of new products.

Massachusetts-based CinCor focuses on developing treatments for hypertension and chronic kidney disease.

Since taking the helm at AstraZeneca in 2012, Frenchman Soriot has expanded the company into lucrative cancer therapies.

The group completed a blockbuster takeover of Alexion for $39 billion in 2021, giving it more heft in areas such as treating blood disorders.

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