Reference no: EM131366990

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In 2011, AstraZeneca acquired Guangdong BeiKang Pharmaceutical Company, a Chinese generics business. In February 2012, AstraZeneca and Amgen announced a collaboration on treatments for inflammatory diseases. Then in April 2012, AstraZeneca acquired Ardea Biosciences, another biotechnology company, for $1.26 billion. In June 2012, AstraZeneca and Bristol-Myers Squibb announced a two-stage deal for the joint acquisition of the biotechnology company Amylin Pharmaceuticals. It was agreed that Bristol-Myers Squibb would acquire Amylin for $5.3 billion in cash and the assumption of $1.7 billion in debt, with AstraZeneca then paying $3.4 billion in cash to Bristol-Myers Squibb, and Amylin being folded into an existing diabetes joint-venture between AstraZeneca and Bristol-Myers Squibb. In March 2013 AstraZeneca announced plans for a major corporate restructuring, including the closure of its research and development activities at Adderley Park, investment of $500 million in the construction of a new research and development facility in Cambridge and the concentration of R&D in three locations: Cambridge, Gaithersburg, Maryland and Mondale (near Gothenburg) in Sweden, for research on traditional chemical drugs. AstraZeneca also announced that it would move its corporate headquarters from London to Cambridge in 2016. That announcement included the announcement that it would cut 1,600 jobs; three days later it announced it would cut an additional 2,300 jobs. It also announced that it would focus on three therapeutic areas: Respiratory, Inflammation & Autoimmunity; Cardiovascular & Metabolic Disease; and Oncology. In October 2013, AstraZeneca announced it would acquire biotech oncology company Spirogen for around $440 million. In April 2015 AstraZeneca's drug tremelimumab was approved as an orphan drug for the treatment of mesothelioma in the United States.[67] In February 2016, AstraZeneca announced that a clinical trial of tremelimumab as a treatment for mesothelioma failed to meet its primary endpoint.