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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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