Covington Reps AstraZeneca In $500M Amplimmune Buy

Law360, New York (August 26, 2013, 12:27 PM EDT) -- AstraZeneca PLC said on Monday it plans to buy privately held Amplimmune for $500 million, adding the Maryland company's early stage immunotherapy drugs aimed at boosting the British pharmaceutical giant's position in a growing field of cancer treatment.

MedImmune, AstraZeneca's biologics research and development unit, will pay an initial $225 million for all of Amplimmune's shares and plans to fork over an additional $275 million after certain unspecified milestones are met, the company said on Monday. Much of Amplimmune's appeal springs from its focus on a...
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