Astrazenec’s stock price jumped as much as 13 percent on Monday, after the healthcare company said it would acquire its stake in the drug maker, which it acquired from Pfizer for $US1.9 billion in 2018.
Pfizer said it has agreed to pay $US3.5 billion for Astrazenech’s shares.
It is the latest deal to take place in the space in the past few months.
Last month, Pfizer bought shares of drug maker Aetna for $1.6 billion.
James C. Scott, former head of the US Marine Corps, died at the age of 62 after a year-long battle with cancer.
More:Pfiser and Astrazenac have been in a fierce fight over drug pricing, with Astrazec being the most aggressive in pushing back against Pfizer’s efforts.
Pfeiffer, meanwhile, has been the most successful in pushing Pfizer to lower drug prices.