Betaville

AstraZeneca snaps up Icosavax for $1.1 billion

Dealmaking may be a bit lacklustre at the moment but if there is one sector that is seeing a lot of activity right now it's the biotechnology industry.

The latest deal to be announced is AstraZeneca's $1.1 acquisition of Icosavax, a US-listed developer of vaccines for respitory diseases.

The FTSE 100-listed pharmaceutical giant is initial paying around $800 million for Icosavax but that could rise to $1.1 billion if certain regulatory hurdles and sales targets are met. Below is a link to the details of the deal:..