AstraZeneca PLC (LSE:AZN) has agreed to buy France-based Amolyt Pharma for $1.05 billion (£780 million) to strengthen the late-stage drug pipeline of its Alexion rare disease arm.
Lyon-based Amolyt's lead drug is called eneboparatide (AZP-3601), a treatment for hyperparathyroidism that is currently in Phase III trials.
Hypoparathyroidism sufferers cannot generate enough of parathyroid hormone (PTH), resulting in significant dysregulation of calcium and phosphate, which can lead to chronic kidney disease and other symptoms.
AZ said it is one of the largest known rare diseases, affecting an estimated 115,000 people in the United States and 107,000 people in the European Union, approximately 80% of whom are women.
Alexion boss Marc Dunoyer also highlighted that the acquisition will add a "talented team" from Amolyt and some earlier-stage drugs that will enable it to expand into rare endocrinology.
Dunoyer said that Alexion is "uniquely positioned" to complete the development and global commercialisation of eneboparatide.
The deal adds to a quartet of deals AZ completed in the final months of last year, purchasing US virus specialist Icosavax for US$1.1 billion and China's Gracell for US$1.2 billion, plus an increased pipeline-pumping deal with Cellnex, and the addition of an early-stage drug portfolio from Pfizer for US$1 billion in September.