Reuters – AstraZeneca Buys AlphaCore Pharma

AstraZeneca boosted its early-stage pipeline of experimental heart drugs on Wednesday by buying privately held U.S. biotechnology company AlphaCore Pharma, which is developing a new type of cholesterol medicine, Reuters reported. The deal shows AstraZeneca's new Chief Executive Pascal Soriot taking on more scientific risks by betting on a new and still unproven approach to cardiovascular medicine. Financial details of the acquisition by the British drugmaker's MedImmune unit were not disclosed but the amount paid will have been modest since AstraZeneca was not obliged to disclose it as a material investment.

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