AstraZeneca announces billion-dollar Ardea takeover

AstraZeneca has announced that it will acquire the small molecule therapeutics specialist Ardea for a total cash value of around $1.26 billion (783.06 million pounds).

The takeover of the San Diego-based company is likely to be completed in the second or third quarter of 2012, allowing AstraZeneca to gain control over valuable pipeline therapies such as the gout treatment lesinurad.

Formerly known as RDEA594, lesinurad is Ardea's most clinically advanced product candidate and is currently in phase III development as a potential treatment for the chronic management of hyperuricaemia among patients with gout.

AstraZeneca will aid Ardea in the ongoing development of the drug, which is planned for US and EU regulatory filing in the first half of 2014.

David Brennan, chief executive officer of AstraZeneca, said: "The Ardea team has done a great job developing lesinurad along with a promising next-generation gout programme. These compounds have real potential to benefit patients."

Earlier this month, AstraZeneca announced a new collaboration with Amgen that will see the companies conduct collaborative research into inflammatory disease.