AstraZeneca Completes Acquisition Of ZS Pharma - Quick Facts

(RTTNews) - UK-based drugmaker AstraZeneca PLC (AZN.L, AZN) said it has successfully completed the tender offer for all of the outstanding shares of ZS Pharma Inc. (ZSPH) as well as the subsequent acquisition of ZS Pharma as previously announced in November. ZS Pharma is a biopharmaceutical company based in San Mateo, California.

As of the expiration of the tender offer, a total of about 21.95 million shares of ZS Pharma common stock were validly tendered and not withdrawn, representing about 86.6 percent of ZS Pharma's outstanding shares.

Following completion of the merger, ZS Pharma's shares ceased to be listed on Nasgaq, and the company became a wholly owned subsidiary of AstraZeneca.

AstraZeneca noted that the transaction will strengthen its cardiovascular and metabolic disease or CVMD portfolio with the addition of the potassium-binding compound ZS-9, a potential best-in-class treatment for hyperkalaemia, a condition associated with increased mortality in patients with chronic kidney disease, diabetes mellitus, and chronic heart failure.

ZS-9 is under regulatory review by the U.S. Food and Drug Administration with a Prescription Drug User Fee Act goal date of 26 May 2016.