AstraZeneca to Acquire Ardea Biosciences
AstraZeneca is to acquire biotechnology firm Ardea Biosciences for $1.26 billion. The transaction is expected to complete in the second or third quarter of 2012.
AstraZeneca will acquire US-based biotechnology company Ardea Biosciences for $1.26 billion.
The boards of both companies have unanimously approved the terms of the agreement and the transaction is expected to complete in the second or third quarter of 2012.
AstraZeneca will pay $32 per share to Ardea Biosciences, whose lead product Lesinurad is currently in Phase III development as a potential treatment for the chronic management of hyperuricaemia in patients with gout.
AstraZeneca CEO David Brennan said, "This attractive Phase III programme is an excellent opportunity to leverage AstraZeneca's global specialty and primary care sales and
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