(Reuters) -Drugmaker AstraZeneca on Tuesday agreed to buy vaccine developer Icosavax in a deal valued at up to $1.1 billion to bolster its respiratory syncytial virus (RSV) vaccine portfolio.
The deal values Icosavax at $15 per share in cash at closing, plus a non-tradable contingent value right for up to $5 per share in cash if certain milestones are met.
The upfront payment of $15 apiece represents a premium of about 43% to U.S.-listed Icosavax’s last close.
(Reporting by Yadarisa Shabong in Bengaluru; Editing by Sonia Cheema)
