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Company News, Business, Economy, Health

Emirates NBD H1 profit $3.40bn

Total income rose by 12 percent in the same period.

ADIB H1 pre-tax profit $1.08bn

Q2 pre-tax net profit increases by 14 percent.

AstraZeneca to invest $50bn in US

Bulk of funds to go into a Virginia manufacturing center.

UAB net profit up by 50% for H1

Total assets increase by 11 percent.

TSMC Q2 profit up 60%

TSMC is the world's largest contract maker of chips.

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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