Astra strikes deal for US rival

AstraZeneca today said it would move into the vaccines market after unveiling the acquisition of US company MedImmune for more than £7bn (€10.3bn).

The pharmaceuticals group will pay $15.2bn (€11.2bn) for its US rival, which owns and manufactures Synagis, a leading treatment for respiratory tract infections in babies and children.

Additionally, MedImmune also has a pipeline of 45 new products and makes the influenza vaccine FluMist.

The move will significantly enhance AstraZeneca’s drugs offering after it suffered a series of setbacks with new products during the last year - increasing its reliance on its three main products Nexium, for heartburn, Seroquel for schizophrenia and Crestor, which helps lower cholesterol.