Pharmaceutical giant AstraZeneca is to buy a US biotech company which is pioneering a treatment for gout for $1bn.The company which is one of the largest employers in Cheshire with more than 3,000 scientists at the Alderley Park cancer research centre near Alderley Edge and 2,600 in manufacturing at nearby Macclesfield, is acquiring San Diego-based Ardea Biosciences for $32 a share.Ardea's clinically most advanced product is called lesinurad and is currently in Phase III development as a potential treatment for the chronic management of hyperuricaemia in patients with gout.The $32 per share price is a 54% premium to Friday's closing price, AstraZeneca said.Chief executive David Brennan said: "This attractive Phase III programme is an excellent opportunity to leverage AstraZeneca's global speciality and primary care sales and marketing capabilities."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."Gout is caused by abnormally elevated levels of uric acid in the blood stream. It is estimated that there were approximately 14.7 million diagnosed prevalent cases of chronic gout in the major markets in 2009, which is forecast to grow to 16.6 million in 2019.
Original Article: AstraZeneca buys gout therapy pioneer for $1bn