AstraZeneca to acquire Arrow Therapeutics

AstraZeneca has announced that it has signed an agreement to acquire the privately-owned biotechnology firm Arrow Therapeutics. The purchase of the anti-viral therapy discovery and development company will be valued at $150 million (76.38 million pounds) in cash.

This amount is subject to debt and working capital adjustment, with the transaction due to close early this year. AstraZeneca states that this acquisition will enhance its anti-infective treatment portfolio, enabling the company to reaffirm anti-bacterials and infection as key therapy area for the firm.

Arrow Therapeutics has developed a number of anti-viral programmes, including a range of approaches to respiratory syncytial virus and hepatitis C.

John Patterson, executive director of development at AstraZeneca, said: “Arrow Therapeutics is an excellent opportunity to acquire a world-class anti-viral capability to add to our own anti-bacterial research capabilities and promising early stage compounds.”

He added that the company had identified antivirals and anti-bacterials as a vital opportunity to focus on an area of high unmet need in the pharmaceutical industry.

Last year, AstraZeneca announced the purchase of Cambridge Antibody Technology, a firm focused on the development of human monoclonal antibody therapeutics to improve the lives of patients with serious illnesses.

The UK-based company became part of the AstraZeneca group of companies in June 2006.