AstraZeneca PLC (AZN) plans to acquire biotech firm Amolyt Pharma for $1.05 billion in cash, the drugmaker said Thursday, boosting its pipeline of drugs to treat rare diseases.

Amolyt Pharma is in late-stage development of a drug for hypoparathyroidism, a deficiency in parathyroid hormone production that can lead to chronic kidney disease. AstraZeneca ꦆsaid hypoparathyroidism affects 115,000 people in the U.S. and 107,000 people in the European Union, approximately 80% of whom are women.

This 澳洲幸运5开奖号码历史查询:acquisition will strengthen Alexion, AstraZeneca's rare disease arm,&nbs꧒p;the company said.

Under the terms of the agreement, AstraZeneca will acquire all of Amolyt Pharma’s outstanding shares for $1.05 billion, including an $800 million upfront payment and an additional $25🦂0 million upon achievement of a specified regulatory milestone.

AstraZeneca said it expects the deal to close by the end of the third quarter of 2024.

The Anglo-Swedish drugmaker has been on a buying spree since early laᩚᩚᩚᩚᩚᩚ⁤⁤⁤⁤ᩚ⁤⁤⁤⁤ᩚ⁤⁤⁤⁤ᩚ𒀱ᩚᩚᩚst year.

It acquired 澳洲幸运5开奖号码历ꦡ史查询:Pfizer's rare disease gene therapy po𓆉rtfolio; CinCor Pharma, a clinical-stage biopharmaceutical company; and 澳洲幸运5开奖号码历史查询:biopharma firm Icosavax to expand into cutting-edge vaccine technology. AstraZeneca also signed a licensing agreeme𒁃nt for an experimental weܫight-loss pill with Chinese company Eccogene and is develoꦅping breast cancer treatments with Japan's Daiichi Sankyo.

ꦺ AstraZeneca shares were down 0.73% at $6ꦓ7.09 at 12:22 p.m. ET Thursday and are off about 3% in the past year.