AstraZeneca announced on Monday that it had completed the acquisition of Amolyt Pharma, a French biotechnology company specializing in the treatment of rare endocrine diseases.

In a press release, the biopharmaceutical group explains that this acquisition will enable Alexion, its subsidiary dedicated to rare diseases, to strengthen its expertise in cutting-edge endocrinology.

The transaction will lead to the acquisition of eneboparatide (AZP-3601), an experimental drug currently in phase III development for the treatment of hypoparathyroidism, a parathyroid hormone deficiency.

Under the terms of the agreement, AstraZeneca has paid $1.05 billion in cash for the transaction, to which an additional $250 million may be added subject to the achievement of certain regulatory milestones.

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