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news.AstraZeneca, a biopharmaceutical company, has completed the purchase of a US-based biotechnology company, Ardea Biosciences.
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Upon completion of the merger, approved by Ardea’s stockholders, each outstanding share of Ardea common stock has been cancelled and converted into the right to receive $32.00, in cash, without interest.
Shares of Ardea have ceased trading on the NASDAQ.
According to AstraZeneca, the acquisition would strengthen its late-stage pipeline with the addition of lesinurad, indicated for the chronic management of hyperuricaemia in gout patients.
Ardea is focused on the development of small-molecule therapeutics for the treatment of serious diseases.
AstraZeneca is focused on the discovery, development and commercialisation of prescription medicines for gastrointestinal, cardiovascular, neuroscience, respiratory and inflammation, oncology and infectious disease.