AstraZeneca targeting California-based Acadia Pharmaceuticals ($4.4bn)

The English daily The Evening Standard yesterday reported that AstraZeneca is interested in acquiring the California-based Acadia Pharmaceuticals. Acadia currently has a capitalization of approximately $4.4bn (Nasdaq) and its shareholders include the Baker Brothers fund (21%). Acadia’s key asset is Nuplazid (pimavanserin), a therapy approved by FDA for the treatment of hallucinations associated with Parkinson’s disease, which affects 4 to 6 million people globally. Moreover, the California-based group has a rich pipeline for the treatment of CNS pathologies. According rumors reported by the British daily, AstraZeneca’s CEO Pascal Soriot is striving to address the problems due to the recent Mystic cancer trial setback, which caused the company to lose 15% of its capitalization in a day. (Source: The Evening Standard)