AstraZeneca will buy longtime partner FibroGen's China unit for about $160 million to gain rights to its anemia drug in the country, further boosting its presence in the world's second-biggest economy.

AstraZeneca will gain full rights for roxadustat in China where it is approved to treat anaemia seen with chronic kidney disease.

FibroGen sells its China unit to AstraZeneca for $160 million, extending its cash runway into 2027 and advancing its CD46-targeting ADC and PET imaging agent.

AstraZeneca is paying $160 million for FibroGen’s China business, giving the U.K.-based Big Pharma the regional rights to oral anemia drug roxadustat.

AstraZeneca walked away from the bulk of its roxadustat partnership with FibroGen—though the pharma at the time decided to retain its relationship with the biotech’s China operations.

AstraZeneca will buy U.S. biotech firm FibroGen's China unit for about $160 million, in its latest deal to boost its presence in the country despite growing US-China trade tensions. Fibrogen said the deal will give AstraZeneca full rights to its anemia drug roxadustat in China.