MedImmune: A Booster Shot for Astra?

The vaccine maker fetches a premium price as the European pharma giant seeks to strengthen its product portfolio

Vaccine maker MedImmune (MEDI) was the latest prize for a big pharma looking to beef up its product offerings. Anglo-Swedish giant AstraZeneca (AZN) said Apr. 23 it would snap up the U.S. biotech for $15.2 billion, or $58 per share. MedImmune shares soared on the news to trade up 18% to close at $56.57 in Nasdaq trading Apr. 23.

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