AstraZeneca entered into a definitive agreement Friday to buy ZS Pharma, a California biotechnology company, for $2.7 billion.
ZS Pharma (NASDAQ: ZSPH) of San Mateo, Calif., has an application seeking approval for ZS-9, its experimental treatment for hyperkalaemia, under review with the Food and Drug Administration. A European marketing application is expected before the end of the year.