AstraZeneca confirms talks with biotech group Acerta

Pharmaceuticals giant AstraZeneca confirmed that it is exploring potential strategic options with biotech company Acerta Pharma BV.

“There can be no certainty that any transaction will ultimately be entered into, or as to the terms of any transaction,” AZN said.

The statement follows a report in the Wall Street Journal last week suggesting that the London-listed company was in advanced talks to pay more than $5bn for the cancer drug developer, which is based in California and the Netherlands.