AZ takes majority stake in Acerta

AstraZeneca plc (LSE:AZN; NYSE:AZN) will acquire a 55% stake in Acerta Pharma B.V. (Oss, the Netherlands) for $4 billion, including $2.5 billion cash up front and $1.5 billion upon either the first FDA approval of Acerta's acalabrutinib ( ACP-196) for any indication or YE18, whichever comes first. AZ also holds options to purchase the remaining 45% of Acerta for about $3 billion at multiple points in time after acalabrutinib is approved.

AZ hopes to submit acalabrutinib to regulators in 2H16 to treat undisclosed hematological malignancies. ...