AstraZeneca to buy smaller US rival

London - British drugmaker AstraZeneca said on Friday it had agreed to buy US group ZS Pharma, a specialist in treating high potassium levels linked to kidney disease and heart failure, for $2.7bn (€2.5bn).

"This acquisition complements our strategic focus on cardiovascular and metabolic disease by adding a potential best-in-class treatment to our portfolio of innovative medicines," AstraZeneca chief executive Pascal Soriot said in a statement.

On hyperkalaemia, or high potassium levels in the blood, he added that "the risk is underappreciated and prevalence is increasing".

ZS Pharma chief executive Robert Alexander said the deal, worth about €2.5bn, would allow his company "to maximize the potential of (hyperkalaemia treatment) ZS-9, drawing on AstraZeneca's long-standing expertise in developing and commercializing medicines for cardiovascular and metabolic diseases".

AstraZeneca's announcement comes a day after it said group annual earnings were set to rise more than expected after a strong third-quarter.