AstraZeneca will purchase FibroGen China for about $160 million to gain rights to FibroGen's Roxadustat anemia drug in China, FibroGen said Thursday.
Roxadustat is indicated for anemia in chronic kidney disease. It has a pending regulatory decision for chemotherapy-induced anemia, FibroGen said.
FibroGen will be entitled to an enterprise value of $85 million and about $75 million in net cash held in China.
The transaction is expected to close by the middle of 2025.
Following closing, FibroGen will also repay its term loan facility to investment funds managed by Morgan Stanley Tactical Value.
The purchase comes as AstraZeneca is facing probes in China following investments in the country, Reuters reported separately.
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