AstraZeneca Explores Major American Pharmaceutical Acquisition

AstraZeneca is considering a sizeable expansion of its rare-disease business through a proposed acquisition of US drugmaker Rhythm Pharmaceuticals. People familiar with the matter told Reuters that the British group had made a non-binding offer valued at approximately $10 billion.

The proposal could reach $134 per share including milestone-linked payments, although the parties have not announced a definitive transaction. Rhythm develops medicines for rare metabolic conditions, including severe forms of obesity, and has an approved therapy called Imcivree.

An acquisition would build on AstraZeneca’s earlier purchase of Alexion, whose focus on rare diseases provides an existing commercial and scientific platform. Rhythm’s specialist treatments occupy a different market from the mass-market obesity drugs attracting much of the industry’s attention.

The offer also illustrates the continuing flow of international pharmaceutical capital towards promising American drug developers. For investors, the distinction between a non-binding approach and a completed takeover remains crucial: valuation, regulatory review and final agreement could all alter the outcome.