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CinCor Pharma Stock Surges on Deal to Be Acquired by AstraZeneca

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AstraZeneca


agreed to buy U.S. biotech company


CinCor Pharma


in a deal potentially valued at $1.8 billion, the British pharmaceutical giant said Monday.

The offer price of $26 a share represents a 121% premium to CinCor’s (ticker: CINC) closing price on Friday, and will see


AstraZeneca


(AZN.U.K.) pay $1.3 billion up front. 

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