Shares of AstraZeneca Plc were gaining around 4 percent in London trading as well as around 5 percent in pre-market activity on Nasdaq after the British drug major reported Friday significantly higher profit for its second quarter. Top line beat market estimates. Further, the company maintained its outlook for fiscal 2023, expecting growth.
In addition, AstraZeneca noted that its Rare Disease unit Alexion agreed with Pfizer Inc. to purchase and licence the assets of Pfizer's early-stage rare disease gene therapy portfolio for up to $1 billion, plus tiered royalties on sales. Alexion plans to close the transaction in the third quarter, subject to the satisfaction of closing conditions.
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