What’s in the pipeline for Turing Pharmaceuticals, a milestone pharmaceuticals company
The company announced a milestone $4.9 billion merger with AstraZeneca, which will see Astra-Zeneca’s global sales grow by more than 100 percent and bring the company’s sales for 2016 to more than $15 billion.
AstraZeno announced the transaction on Monday, and the two companies will announce their combined results for the first quarter of 2017 in the next few weeks.
The two companies are also working on a $1 billion merger, which would see AstronaZeneca buy Astra Pharma, the global pharma company with a $16 billion market cap.
Both companies have been looking to build a strong pharmaceutical division that will leverage the capabilities of their pharma businesses, which include vaccines, diagnostics, biosimilars, and other drugs.
In January, Astra Zeneca announced it would sell off its pharmaceutical business, while Astra’s stock rose in after-hours trading on Monday.
AstraZenec’s shares rose as much as 14 percent in after hours trading Monday morning.