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Business, Company News, Economy, Health

Borouge okays $656m dividend

The company said dividend reflects its resilience

DEWA posts record H1 profit

Revenue reaches record $4.04 billion.

Tabreed H1 revenue $308m

Blurb: Profit reaches $52 million in H1

ADNOC L&S to expand fleet

It will acquire 11 carriers for $1.3bn.

Empower profit climbs 16%

Dubai district cooling demand lifts earnings

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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