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AstraZeneca Secures China Rights to Anemia Drug, Buying FibroGen Unit in $160M Deal

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By selling its China business to AstraZeneca, FibroGen can focus on developing a prostate cancer drug and potentially resuming development of roxadustat in another indication.
AstraZeneca has acquired the rights to develop and commercialize an anemia drug in China by purchasing a unit of FibroGen for $160 million. This deal includes the drug roxadustat, which is already approved in China for treating anemia caused by chronic kidney disease (CKD) and chemotherapy-induced anemia in patients with various cancers. Roxadustat, an oral medication, works by mimicking the body's response to low oxygen levels, thereby stimulating the production of red blood cells. This acquisition not only strengthens AstraZeneca's presence in the Chinese market but also expands its portfolio in treatments for anemia, a condition often associated with significant morbidity in CKD patients. The transaction is part of AstraZeneca's strategy to enhance its offerings in innovative treatments and to leverage the growing healthcare market in China.

Read the Full MSN Article at:
[ https://www.msn.com/en-us/money/general/astrazeneca-secures-china-rights-to-anemia-drug-buying-fibrogen-unit-in-160m-deal/ar-AA1zxf6q ]