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AstraZeneca buys ZS Pharma for $2.7 billion, pips Actelion

A sign is seen at an AstraZeneca site in Macclesfield, central England May 19, 2014.

Britain's AstraZeneca (AZN.L) said on Friday it had agreed to buy U.S biotech company ZS Pharma (ZSPH.O) for $2.7 billion, pipping Swiss firm Actelion (ATLN.VX) to the prize in the latest bout of deal-making for the hyperactive healthcare sector.

AstraZeneca, which on Thursday lifted its full-year earnings forecast despite the eroding sales of some of its top-selling medicines, said it would pay $90 a share to...