AstraZeneca to Acquire MedImmune

The Anglo-Swedish pharmaceuticals giant AstraZeneca said on Monday it has agreed to buy the Amreican biotechnology company MedImmune for 15.6 billion US dollars.

MedImmune is based in Maryland and specialises in vaccines.

AstraZeneca, the third-biggest European drugs maker after GlaxoSmithKline and Sanofi-Aventis, revealed that the deal was expected to be completed by June.

According to the group cost savings from the acquisition are expected reach 500 million US dollars a year by 2009.

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