AstraZeneca PLC announced Monday that it will purchase biotechnology company MedImmune, Inc. for $58 per share, or $15.6 billion.
The acquisition will expand AstraZeneca’s R&D science base to include small molecules, biologics and vaccines.
AstraZeneca’s biologics pipeline will increase from 7 percent to 27 percent and the total pipeline will grow from 45 projects to 163 projects.
The deal is expected to close in June 2007.
“This acquisition represents a transformational step to deliver our biologics strategy sooner than anticipated,” said David Brennan, AstraZeneca CEO. “It creates a leading fully integrated biologics and vaccines business with critical mass and enhances AstraZeneca’s R&D science base through which we will deliver a stronger product pipeline.”