AstraZeneca to Buy CinCor Pharma for Up to $1.8 Billion (4)

AstraZeneca Plc agreed to buy US biotech CinCor Pharma Inc. for as much as $1.8 billion to gain a promising new treatment for hypertension and kidney disease.

The deal is the first sizable one for Astra since the $39 billion takeover of rare-disease specialist Alexion Pharmaceuticals Inc. in 2021, and it’s in keeping with Chief Executive Officer Pascal Soriot’s strategy to beef up the UK drugmaker’s pipeline.

Investors will receive $26 in cash for each CinCor share, plus a non-tradeable right to a $10 per share payment that’s contingent on the company making a regulatory submission for its lead ...