Anglo-Swedish pharmaceuticals giant AstraZeneca on Monday agreed to buy US biotech company CinCor for €1.7 billion, expanding further into the field of heart and kidney drugs.

The takeover marks the latest push by Astra chief executive Pascal Soriot to bolster the COVID vaccine maker's pipeline of new products.

Massachusetts-based CinCor focuses on developing treatments for hypertension and chronic kidney disease.

Since taking the helm at AstraZeneca in 2012, Frenchman Soriot has expanded the company into lucrative cancer therapies.

Since taking the helm at AstraZeneca in 2012, Frenchman Soriot has expanded the company into lucrative cancer therapies

The group completed a blockbuster takeover of Alexion for $39 billion in 2021, giving it more heft in areas such as treating blood disorders.

Sign up to our free newsletters

Get the best updates straight to your inbox:
Please select at least one mailing list.

You can unsubscribe at any time by clicking the link in the footer of our emails. We use Mailchimp as our marketing platform. By subscribing, you acknowledge that your information will be transferred to Mailchimp for processing.