08:11 AM EDT, 03/14/2024 (MT Newswires) -- AstraZeneca ( AZN ) has agreed to acquire Amolyt Pharma for $1.05 billion, the companies said Thursday.

The companies said the agreement comprises an $800 million upfront payment with a potential milestone payment of $250 million.

AstraZeneca ( AZN ) said it expects the acquisition, slated to be completed at the end of Q3, to support the late-stage pipeline of its Alexion, AstraZeneca Rare Disease unit.