AstraZeneca picks up rare disease-focused Amolyt Pharma in $1 billion deal

LONDON — AstraZeneca said Thursday it would purchase the French firm Amolyt Pharma in a deal worth up to $1 billion, picking up a rare disease drug in a pivotal trial.

The acquisition includes an upfront payment of $800 million in cash, plus another $250 million if regulatory milestones are met. 

AstraZeneca framed the deal for Amolyt, which has focused on treatments for rare endocrine diseases, as a boost for its own rare disease pipeline.