WSJ: AstraZeneca In Talks To Buy Acerta Pharma For More Than $5 Bln

(RTTNews) - AstraZeneca plc (AZN, AZN.L) is in advanced talks to acquire closely-held biotech company Acerta Pharma BV for more than $5 billion, the Wall Street Journal reported Friday, citing people familiar with the matter.

According to the WSJ report, the two companies plan to announce a deal in December. Acerta does not currently have any drugs on the market, though its lead cancer compound, acalabrutinib, is said to have shown promise in early clinical trials.

Acerta's blood-cancer drug is similar to the leukemia drug Imbruvia from AbbVie Inc. (ABBV) and Johnson & Johnson (JNJ), that is expected by analysts to be a multi-billion dollar seller. Based in California and the Netherlands, the company develops drugs to treat different types of cancer and autoimmune diseases.

In early November, AstraZeneca said it has agreed to acquire California-based biopharmaceutical company ZS Pharma Inc. (ZSPH) in a deal valued at $2.7 billion.

AZN closed Friday's trading at $33.25, down $0.22 or 0.66 percent on a volume of 4.46 million shares.