AstraZeneca to pay $1.26 billion for Ardea and its gout product

AstraZeneca is to acquire Ardea Biosciences, the Nasdaq-listed San Diego firm with the Phase III gout candidate lesinurad (RDEA594). It is to pay $1.26 billion (or $1 billion net of existing cash). The $32 per share agreed offer represents a premium of 54% on Ardea's closing price on 20 April, and of 50% over its one-month volume-weighted average price.