AstraZeneca completes acquisition of Ardea Biosciences

AstraZeneca today announced that on Tuesday 19 June 2012 it completed its acquisition of San Diego, California-based biotechnology company Ardea Biosciences, Inc. The merger was approved by Ardea’s stockholders.

Upon completion of the merger, each outstanding share of Ardea common stock was cancelled and converted into the right to receive $32.00, in cash, without interest, and shares of Ardea common stock ceased trading on the NASDAQ Global Select Market.

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.