MedImmune commits to sale agreement

Published April 24, 2007 4:00am ET



MedImmune is off the market.

Following months of prodding by its prominent shareholders, Gaithersburg-based MedImmune Inc. announced Monday that it has entered into a definitive agreement to be acquired by British pharmaceutical firm AstraZeneca PLC. Under the terms of the deal, AstraZeneca will purchase MedImmune for about $15.6 billion, or $58 per share. Two weeks ago, the local drug and vaccine company released information that its board of directors had hired Goldman Sachs, a global investment banker, to help the business find its best possible suitor.

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