April 24, 2007 |
AstraZeneca, struggling to develop new medicines, said Monday that it agreed to buy biotechnology company MedImmune Inc. for $15.2 billion in cash to gain flu vaccines and an antiviral treatment for babies. MedImmune investors will get $58 a share, AstraZeneca said. That's 21% more than MedImmune's Friday closing price of $48.01. MedImmune, based in Gaithersburg, Md., put itself up for sale April 12 under pressure from billionaire Carl Icahn and other shareholders.
January 12, 2007 |
The announcement by Bristol-Myers Squibb Co. and AstraZeneca on Thursday that they will share the risks and rewards of developing two diabetes drugs highlights how expensive and precarious the route to product approval can be. By joining forces, the companies lower the financial risks of drug development at a time when numerous high-profile products haven't proved effective in late-stage clinical trials. Under the deal, AstraZeneca will pay as much as $1.
November 17, 2005 |
British drug maker AstraZeneca didn't deceive consumers about the benefits of its Nexium heartburn medication, a federal judge ruled as she threw out a class-action lawsuit against the company. U.S. District Judge Sue Robinson in Wilmington, Del., granted AstraZeneca's motion to dismiss the case after finding that statements made in advertising were consistent with the label approved by the Food & Drug Administration.
July 12, 2005 |
AstraZeneca will pay as much as $340 million to Avanir Pharmaceuticals to develop experimental heart-disease treatments. The companies will work to develop medicines from so-called reverse cholesterol transport enhancing compounds, which may allow the body to reverse damage to blood vessels, AstraZeneca said. AstraZeneca will pay $10 million now with as much as $330 million linked to the experimental drugs meeting development goals, the companies said.
June 7, 2005 |
AstraZeneca's Crestor cholesterol drug may have triggered a temporary weakening in a 67-year-old woman's heart, Mayo Clinic doctors said in a letter published in the Annals of Internal Medicine. Kidney and muscle complications from Crestor may have caused the woman's heart to pump about a fifth as much blood as normal on each beat, James Ireland, a Mayo Clinic doctor, said in Rochester. He was one of four authors of the letter, published under the heading "Clinical Observation."
March 12, 2005 |
AstraZeneca has received its second warning in four months from the U.S. Food and Drug Administration over what the agency says are misleading claims in its ads for cholesterol-lowering medicine Crestor, the company said in New York. The latest letter said claims that Crestor lowers cholesterol better than Pfizer Inc.'s Lipitor were misleading because it cherry picked results from a study comparing the two medicines.