Munch-a-Biotech Today Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Biotech / Medical : Munch-a-Biotech Today

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: nigel bates who wrote (2975)	4/23/2012 4:43:17 AM
From: nigel bates	of 3158

LONDON (ShareCast) - Pharmaceuticals giant AstraZeneca (LSE: AZN.L - news) has announced that it has agreed to acquired California-based biotechnology company Ardea Biosciences (NasdaqGM: RDEA - news) , whose lead product 'Lesinurad' (RDEA594) is currently in Phase III development as a potential treatment for the chronic management of hyperuricaemia in patients with gout. "This attractive Phase III programme is an excellent opportunity to leverage AstraZeneca's global specialty and primary care sales and marketing capabilities," said David Brennan, Chief Executive Officer of AstraZeneca. Under the terms of the definitive merger agreement, Astra will pay $32 per Ardea shares, representing a total cash value of around $1.26bn, including existing cash. This is a 55% premium to Ardea's closing price on Friday April 20th. 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, according to Astra's statement on Monday.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next