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Article: AstraZeneca agrees to buy MedImmune: The $15.2 billion deal would boost the British drugmaker's vaccines and biologics offerings.
- Article from:
- The Philadelphia Inquirer (Philadelphia, PA)
- Article date:
- April 24, 2007
CopyrightCOPYRIGHT 2007 The Philadelphia Inquirer. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Linda Loyd
Apr. 24--After a series of setbacks in developing products, AstraZeneca P.L.C. said today that it would pay $15.2 billion in cash to buy MedImmune Inc. in order to gain biotechnology medicines and enter the vaccines business. AstraZeneca -- Britain's second-largest drugmaker, with U.S. headquarters and about 4,500 employees near Wilmington -- will pay $58 a share for MedImmune, which is a 21 percent premium to the Gaithersburg, Md., company's closing price Friday of $48.01. The deal will increase AstraZeneca's proportion of biologics drugs, derived from organisms, from 7 percent to 27 percent, add 45 products in development, and give ...