Thursday, February 01, 2007

AstraZeneca - further feeding frenzy

AstraZeneca said today it had agreed to buy Arrow Therapeutics, a privately-owned British biotechnology firm that specialises in anti-viral treatments, for $150 million cash.

AstraZeneca said it expected the acquisition, the latest in a string of deals aimed at boosting its depleted pipeline of new medicines, to close early this year.

AZ signed two deals on Wednesday worth up to $800 million to bring new respiratory and obesity drugs into its pipeline, is due to report 2006 earnings later today.

Reuters

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