By Ian Walker

AstraZeneca PLC (AZN.LN) said Thursday that it has agreed to buy a U.S. Food and Drug Administration priority review voucher for $95 million from a subsidiary of Swedish Orphan Biovitrum AB (SOBI.SK).

A PRV enables the holder to a FDA priority review of a single new drug application or biologics license application, reducing the target review time and potentially lead to an expedited approval.

The pharmaceutical giant said the acquisition is subject to clearance under the Hart-Scott Rodino Antitrust Improvements Act.

Write to Ian Walker at ian.walker@wsj.com

(END) Dow Jones Newswires

August 22, 2019 02:43 ET (06:43 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.
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