News
21 Jun 2012
AstraZeneca Completes Ardea Merger
AstraZeneca has completed its takeover of biotechnology company Ardea Biosciences.
AstraZeneca has announced that it has completed its acquisition of California-based biotech company Ardea Biosciences.
The global pharmaceutical giant paid $32 per share in a deal totalling ￡1.2 billion which was approved by Ardea's stockholders.
In a statement, AstraZeneca said: "As previously announced, the acquisition strengthens AstraZeneca's late-stage pipeline with the addition of lesinurad, a potential next-generation treatment for the chronic management of hyperuricaemia in patients with gout."
Ardea specialises in the development of small-molecule therapeutics for the treatment of serious diseases, including gout and cancer.
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