Pearl Therapeutics is set to be acquired by drugs giant AstraZeneca for around $1.15 billion.

The move to purchase the U.S. based drug specialist comes as AstraZeneca looks to refresh its product pipeline after the recent expiry of drug patients resulting in a diminishing product offering.

AstraZeneca’s new CE Pascal Soriot has said that the drug companies’ respiratory drug offering would represent a core focus for the company going forward, with drug industry experts predicting the growth of new pulmonary drugs in the near future.

The latest acquisition by the drugs company comes on the back of the recent purchase of Omthera Pharmaceuticals for $443 million.

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