By Christian Moess Laursen

AstraZeneca's rare-disease unit Alexion has completed a purchase and license agreement for early-stage rare-disease gene therapy portfolio from Pfizer for a total consideration of $1 billion, the Anglo-Swedish pharma giant said Wednesday.

"These new resources will build on the combined capabilities of Alexion and AstraZeneca in genomic medicine, with the objective to develop new genetic therapies with improved safety and efficacy profiles," it said.

The consideration includes tiered royalties on sales. Several of the Pfizer employees associated with the portfolio will join Alexion as employees, it said.

Write to Christian Moess Laursen at

(END) Dow Jones Newswires

09-20-23 0229ET