GAITHERSBURG, MD and PARIS, April 4, 2011 – MedImmune, the global biologics business of AstraZeneca, and Inserm Transfert, the private subsidiary of the French National Institute of Health and Medical Research (Inserm), today announced a three-year strategic collaboration to advance research across a range of therapeutic areas including oncology, respiratory, inflammation, and autoimmune diseases.  Research will explore translational biology and new disease mechanisms, as well as evaluate potential drug candidates. 

The collaboration calls for MedImmune funding and joint scientific collaboration commencing with 10 research projects, maximizing Inserm’s unique capability to conduct research by blended physician/biologist teams, and their unparalleled link to patient populations and understanding of human diseases. Additional research projects are being evaluated. 

Via decision-making governance by a Joint Steering Committee (JSC), MedImmune will fund projects to be executed with Inserm for both pre-clinical and clinical research, and will execute other activities to help identify promising approaches to advance drug candidates for patients with unmet medical needs. 

“MedImmune is honored and energized to have this unique opportunity to partner with an organization the caliber of Inserm on discovery and development,” said Bahija Jallal, Ph.D., MedImmune’s executive vice president of research and development.  “This new relationship exemplifies our externalization strategy to invest in the best science, academic expertise, and innovation while enhancing productivity and quality of discovery research outcomes.”

Through establishment of this collaboration, MedImmune is distinguished as one of 10 strategic partners amongst Inserm’s 500 collaborators. Strongly associated with universities and hospitals, Inserm currently has operations in 316 laboratories, with 54 clinical investigation centers representing a workforce of 13,000, which includes approximately 8,000 direct Inserm employees, 3,000 university hospital personnel and 1,450 foreign research scientists. 

“Knowledge transfer today is about connecting excellence in academia and industry and building partnered teams to promote innovation,” said Cécile Tharaud, CEO of Inserm Transfert. “MedImmune is a partner of choice and we are highly committed to building this strategic alliance with the potential to turn ‘open innovation’ concepts into novel therapeutic products to benefit patients.”

Prof. André Syrota, Chairman and CEO of Inserm, added: “We are very honored and pleased to establish such a strategic collaboration with MedImmune. Its cutting-edge R&D focused on biologics is an ideal fit with the expertise and missions of Inserm.  We are confident that we will benefit from the strong support of our translational and clinical research efforts to foster discovery of new targets in therapy areas with high unmet medical needs.”

Financial details of the collaboration will not be disclosed.

About MedImmune

MedImmune, the global biologics unit for AstraZeneca PLC (LSE: AZN.L, NYSE: AZN), has approximately 3,500 employees worldwide and is headquartered in Gaithersburg, Maryland. For more information, visit MedImmune’s website at www.medimmune.com.

About Inserm Transfert

Founded in 2000, Inserm Transfert SA is the private subsidiary of the French National Institute of the Health and Medical Research (Inserm), dedicated to technology transfer (from invention disclosure to industrial partnership).  Inserm Transfert manages European and International research projects, supports preclinical, clinical and post-marketing studies. Since 2009, Inserm Transfert has run a proof of concept fund.  The company is also committed to seed financing in the biotech sector, through its dedicated fund Inserm Transfert Initiative.

About Inserm

Founded in 1964, the French National Institute of Health and Medical Research (Inserm) is a public scientific and technological institute which operates under the joint authority of the French Ministry of Health and French Ministry of Research. As the only French public research institute to focus entirely on human health, in 2008 Inserm took on the responsibility for the strategic, scientific and operational coordination of biomedical research. This key role as coordinator comes naturally to Inserm thanks to the scientific quality of its teams and its ability to conduct translational research, from the laboratory to the patient’s bed.

#  #  #

“The initiation of this trial represents an important step forward in our commitment to advancing our oncologic biologics pipeline addressing different mechanisms to treat cancer,” said Gerald McMahon, Ph.D., MedImmune’s Senior Vice President, Research and Development and Head of the Oncology Innovative Medicines unit.  “We are very eager to understand the potential of this investigational agent.”

This Phase 1 dose-escalation study will evaluate the safety, tolerability, and antitumor activity of the product candidate in adult patients with advanced gastrointestinal cancers, with dose escalation in subsequent cohorts based on safety and tolerability.  Once the maximum tolerated dose is determined, additional study subjects with refractory colorectal or pancreatic cancer will be enrolled in a dose-expansion phase to further assess the safety and antitumor activity.   

Preclinical studies have demonstrated potent activity of the CEA BiTE antibody against human cancer cell lines and inhibition of tumor growth in animal models. 

“We are very pleased to see the third BiTE antibody enter the clinic,” said Christian Itin, Ph.D., Micromet’s President and Chief Executive Officer.   “Pre-clinical results reported to date suggest that MT111 may represent a new approach to treating gastrointestinal cancers, and may also have potential applications in other solid tumors.”

MedImmune and Micromet are advancing the development of this product candidate under a collaboration agreement signed in June 2003.  Under the terms of the agreement, development and commercialization will be led by MedImmune in the U.S. and outside of Europe, and by Micromet in Europe. 

Additional information regarding this Phase 1 study, including enrollment criteria and site locations, will be available soon on the U.S. government’s clinical trials database at http://www.clinicaltrials.gov.

About BiTE Antibodies

BiTE® antibodies are designed to direct the body’s cytotoxic, or cell-destroying, T cells against tumor cells, and represent a new therapeutic approach to cancer therapy. Typically, antibodies cannot engage T cells because T cells lack the appropriate receptors for binding antibodies. BiTE antibodies have been shown to bind T cells to tumor cells, ultimately inducing a self-destruction process in the tumor cells referred to as apoptosis, or programmed cell death. In the presence of BiTE antibodies, T cells have been demonstrated to serially eliminate tumor cells, which explains the activity of BiTE antibodies at very low concentrations. Through the killing process, T cells start to proliferate, which leads to an increased number of T cells at the site of attack.

About MedImmune

MedImmune, the worldwide biologics unit for AstraZeneca PLC (NYSE: AZN), has approximately 3,500 employees worldwide and is headquartered in Gaithersburg, Maryland. For more information, visit MedImmune’s website at www.medimmune.com.

About Micromet, Inc.

Micromet, Inc. is a biopharmaceutical company focused on the discovery, development and commercialization of innovative antibody-based therapies for the treatment of cancer. Its product development pipeline includes novel antibodies generated with its proprietary BiTE® technology, as well as conventional monoclonal antibodies. The Company’s lead product candidate blinatumomab (MT103) is currently the subject of a pivotal trial in patients with minimal residual disease positive acute lymphoblastic leukemia.  Micromet has collaborations with a number of leading pharmaceutical and biotechnology companies, including Bayer Schering Pharma, Boehringer Ingelheim, MedImmune, Merck Serono, Nycomed and sanofi-aventis. Additional information can be found at www.micromet.com.

Safe Harbor

This release contains certain forward-looking statements regarding Micromet and the BiTE antibody MEDI-565 (MT111) that involve risks and uncertainties that could cause actual results to be materially different from historical results or from any future results expressed or implied by such forward-looking statements. These forward-looking statements include statements regarding the future development and applications of MEDI-565 (MT111). You are urged to consider statements that include the words “will,” “potential,” “may,” or the negative of those words or other similar words to be uncertain and forward-looking. Factors that may cause actual results to differ materially from any future results expressed or implied by any forward-looking statements include the risk that MEDI-565 (MT111) does not demonstrate safety and/or efficacy in clinical trials, delays in development and testing, the risk that MEDI-565 (MT111) will not receive marketing approval, and the risks associated with reliance on outside financing to meet capital requirements. These factors and others are more fully discussed in Micromet’s Annual Report on Form 10-K for the fiscal year ended December 31, 2009, filed with the SEC on March 5, 2010, and Micromet’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2010, filed with the SEC on November 9, 2010, as well as other filings by the Company with the SEC.

GAITHERSBURG, MD, January 7, 2011 – MedImmune today announced an in-licensing agreement with Amgen for a novel monoclonal antibody targeting the IL-1 pathway.  The antibody, AMG 108, a fully human monoclonal antibody to the IL-1 receptor, has been studied in multiple phase 1 and phase 2 clinical trials and will now be explored by MedImmune for its potential against certain inflammatory diseases.   

Under the terms of the agreement, Amgen grants MedImmune rights to develop AMG 108 worldwide, outside of Japan.  Terms of the agreement include an upfront payment, development-related milestone payments for multiple indications, and royalties upon sale of a commercial product.  Financial details will not be disclosed.

“Recent data indicates the importance of the IL-1 pathway in a variety of inflammatory conditions, and AMG 108 represents a compelling opportunity to explore this antibody’s activity against various diseases for which patients need new treatment options,” said Bahija Jallal, executive vice president of research and development at MedImmune.  

The exploration of AMG 108 is strategically aligned with the organization’s commitment to advancing promising biological assets from both internal and external sources.

About MedImmune

MedImmune, the worldwide biologics unit for AstraZeneca PLC (LSE: AZN.L, NYSE: AZN), has approximately 3,500 employees worldwide and is headquartered in Gaithersburg, Maryland. For more information, visit MedImmune’s website at www.medimmune.com.

MedImmune will lead a panel discussion at the 2010 BIO International Convention entitled, “A Diamond in the Rough – Trends and Strategies in the Healthcare VC Market,” which will take a deep dive into  current and future trends surrounding traditional and non-traditional investment funding including:

• How VC investment strategies will evolve considering the recent healthcare legislation
• The impact of the recession and drought in IPOs on VC funding and why VC funding in the biotech industry is less susceptible to the pitfalls of a financial slowdown
• Venture capitalists’ investment criteria and how it is shaped during economic cycles
• The increasing hands-on approach of VC firms and what VCs look for when they invest in a start-up company
• Opportunities for life science entrepreneurs within this changing market and the secrets of raising cash in a buyers market

WHO:                   

MedImmune’s Eva Jack, Managing Director of MedImmune Ventures, Inc, will lead the roundtable panel discussion with participants to include:

• Steven Elms, MBA, Managing Partner, Aisling Capital LLC
• Allan Marchington, PhD, Partner, Apposite Capital
• Carole Nuechterlein, Head of Roche Venture Fund  for F. Hoffmann – La Roche Ltd
• Joseph Regan  VP Investments: Life Sciences for GrowthWorks Capital

WHY:                   

With the current recession and lack of IPOs in the market, venture capital investment impacts every non-public biotech company.

WHEN:                

Tuesday, May 4^th
4:00PM to 5:30PM

WHERE:               

Room: S405B, McCormick Place
2301 S. Lake Shore Drive
Chicago, IL  60616

*Please note this panel takes place in a different room from other BIO finance track sessions  

GAITHERSBURG, Md., Jan. 7 /PRNewswire/ — MedImmune, the operationally independent worldwide biologics unit of AstraZeneca plc (LSE: AZN.L, NYSE: AZN), today announced that its highly successful venture capital fund, MedImmune Ventures, will broaden its focus to include areas of strategic interest to both organizations by adding the therapeutic areas of cardiovascular and metabolic disease, pain and central nervous system disorders and gastrointestinal disease. Traditionally, MedImmune Ventures has focused its efforts on the areas of infectious disease, oncology and inflammatory disease. Since its inception in 2002, MedImmune Ventures has invested in 22 companies.

“We look forward to making meaningful investments in these additional therapeutic areas,” said Edward T. Mathers, executive vice president, corporate development and venture, MedImmune. “Now that we are more fully aligned with AstraZeneca’s core areas of interest, we are able to help both MedImmune and AstraZeneca to stay at the forefront of novel science with a direct window to the most innovative start-ups in the biotechnology industry.”

Mr. Mathers and MedImmune President & CEO David M. Mott currently lead MedImmune Ventures. To accommodate the broader disease area focus, MedImmune Ventures has added Maggie Flanagan LeFlore, Ph.D. and Eva M. Jack as managing directors to its team of experts that oversee the assessment of all new investment opportunities. Previously, Dr. LeFlore was on assignment from AstraZeneca to the healthcare and life science venture investment team at Advent International, and Ms. Jack was director, business development at MedImmune. Also, Joseph L. Amprey, M.D., Ph.D. was promoted to managing director of MedImmune Ventures following the June 2007 retirement of its president, Wayne T. Hockmeyer, Ph.D. Franklin H. Top, M.D., who has been with MedImmune since 1988 and is the company’s former medical director/head of clinical development, rounds out the MedImmune Ventures team as senior vice president.

About MedImmune Ventures

MedImmune Ventures is a corporate venture capital fund with $300 million under management that invests in early-to late-stage, public or private biopharmaceutical companies focused on discovering and developing human therapeutics. The primary strategic areas of interest are antibodies and peptides/proteins, other various biologics, small molecules and vaccines. MedImmune Ventures will also examine investment opportunities related to new technologies and programs related to translational sciences, and the intersection between diagnostics and drug development. Investments range from seed funding through public investments in private equity.

Created to promote entrepreneurship and to give MedImmune early access to the newest companies and discoveries, MedImmune Ventures leverages a broad base of internal resources with expertise ranging from R&D to marketing of biologics and small molecules, which closely guide its investment strategies. The fund has provided MedImmune with early exposure to new technologies and therapeutic approaches and the opportunity to establish relationships that have eventually led to R&D collaborations and acquisitions. Now as a part of AstraZeneca, the fund will seek to continue implementing its investment plan while broadening its investment interests and leveraging the parent company’s internal resources as well as its relationships with academic institutions, other biotechnology companies and worldwide venture capital firms.

Parties interested in seeking funding should direct inquiries to medimmuneventures@medimmune.com.

About MedImmune

MedImmune strives to provide better medicines to patients, new medical options for physicians and rewarding careers to employees. With approximately 3,000 employees worldwide and headquarters in Maryland, MedImmune is dedicated to advancing science and medicine to help people live better lives and is wholly owned by AstraZeneca plc (LSE: AZN.L, NYSE: AZN). For more information, visit MedImmune’s website at http://www.medimmune.com.

Forward Looking Statements

This press release contains certain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, with respect to the operations, performance and financial condition of MedImmune, a member of the AstraZeneca Group. These forward-looking statements reflect management’s current views and are based on current expectations and involve risks and uncertainties and may be influenced by factors that could cause actual outcomes and results to be materially different from those predicted. The risks and uncertainties associated with the business of the AstraZeneca Group are described in the reports and other documents filed by AstraZeneca plc with the Securities and Exchange Commission. These forward-looking statements are based on information currently available to AstraZeneca and AstraZeneca undertakes no obligation to update any such forward-looking statements included herein, except as otherwise may be required by applicable law or regulation.

SOURCE MedImmune

CONTACT: Media: Jamie Lacey, +1-301-398-4035; or Investors: Peter Vozzo, +1-301-398-4358

As more fully described in the notice to noteholders, in accordance with Section 10.01(A)(iv), 10.01(C) and 10.14(D) of the Indentures, notes may be converted at any time during the period that began on Wednesday, May 2, 2007, and ends on, and includes, Tuesday, July 31, 2007 (the “Make-Whole Convertibility Period”).

The conversion rate in effect as of June 18, 2007 is 29.9679 shares of MedImmune common stock per $1,000 principal amount of notes. Pursuant to the Indentures, the notes are convertible solely into cash. The conversion rates for the notes that are converted during the Make-Whole Convertibility Period are increased to 30.9510 shares for each $1,000 principal amount of the 2011 notes and 31.4753 shares for each $1,000 principal amount of 2013 notes. In order to receive the increased conversion rate set forth above, holders must surrender their notes for conversion during the Make-Whole Convertibility Period. If a holder fails to convert its notes during the Make-Whole Convertibility Period, such holder will be entitled, notwithstanding the expiration of the Make-Whole Convertibility Period, to convert its notes up until the business day immediately preceding the respective maturity date of the notes. However, such holder will not be entitled to any increase in the conversion rate pursuant to Section 10.14 of the Indentures in respect of such notes so converted, unless such conversion occurs during the Make-Whole Convertibility Period.

MedImmune has also announced that, as a result of the Fundamental Change described above, holders of the notes have the right to require the MedImmune to repurchase all of their notes (or portions thereof that are integral multiples of $1,000 in principal amount) on Monday, July 23, 2007, the Fundamental Change Repurchase Date, at a repurchase price payable in cash equal to 100% of the principal amount of the notes to be repurchased, plus accrued and unpaid interest to, but excluding July 23, 2007.

Holders of notes should read carefully the notice they will be receiving regarding their conversion rights and their rights to require MedImmune to repurchase their notes in connection with the Fundamental Change and Make- Whole Fundamental Change, as it contains important information as to the procedures and timing for the exercise of such rights.

Forward-Looking Statements

This press release includes forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995, that are subject to risks, uncertainties and other factors. In addition, if and when the transaction is consummated, there will be risk and uncertainties related to AstraZeneca’s ability to successfully integrate the products and employees of AstraZeneca and MedImmune. These risks, uncertainties and other factors, and the general risks associated with the respective businesses of AstraZeneca and MedImmune as described in the reports and other documents filed by each of them with the SEC, could cause actual results to differ materially from those referred to in the forward-looking statements. The reader is cautioned not to rely on these forward-looking statements. All forward-looking statements are based on information currently available to AstraZeneca and MedImmune, and neither AstraZeneca nor MedImmune assumes any obligation to update any such forward-looking statements included in this press release.

SOURCE MedImmune, Inc.

CONTACT: Investors, Peter Vozzo, +1-301-398-4358, or Media, Kate Barrett, +1-301-398-4320, both of MedImmune, Inc.

As more fully described in the notice to noteholders, in accordance with Section 10.01(A)(iv), 10.01(C) and 10.14(D) of the Indentures, notes may be converted at any time during the period beginning on Wednesday, May 2, 2007, and ending on, and including, the later of (i) the date that is 30 Business Days (as defined in the Indentures) after the actual effective date of the merger, which MedImmune will announce no later than the third Business Day after the effective date of the merger and (ii) the “Fundamental Change Repurchase Date,” which MedImmune will announce within 20 Business Days after the consummation of the merger (the “Make-Whole Conversion Period”).

The conversion rate in effect as of May 2, 2007 is 29.9679 shares of MedImmune common stock per $1,000 principal amount of notes. If the merger were to occur on June 16, 2007, then the conversion rate applicable to notes surrendered during the Make-Whole Conversion Period would be, with respect to the 2011 notes, 30.9514 shares of MedImmune common stock per $1,000 principal amount of notes and, with respect to the 2013 notes, 31.4754 shares of MedImmune common stock per $1,000 principal amount of notes. If the effective date of the merger were to occur after June 16, 2007, then the conversion rate applicable to notes surrendered during the Make-Whole Conversion Period would decrease by approximately 0.000188 shares per day, with respect to the 2011 notes, and 0.000052 shares per day, with respect to the 2013 notes, after June 16, 2007 and on or before July 15, 2007. Holders of notes that are converted during the Make-Whole Conversion Period, however, will be entitled to the increase in conversion rate only if the merger is actually consummated. Therefore, if a holder converts notes on or after May 2, 2007, but the merger is not consummated, then the holder will not be entitled to the increased conversion rate. Because the merger is subject to certain conditions, including the successful completion of the “first-step” tender offer that is itself conditioned on the occurrence of various events, MedImmune cannot be sure when, or if, the merger will occur.

Holders of notes should read carefully the notice they will be receiving regarding the convertibility of the notes in connection with the anticipated Fundamental Change and Make-Whole Fundamental Change, as it contains important information as to the procedures and timing for the conversion of the notes.

Additional Information

This announcement is neither an offer to purchase nor a solicitation of an offer to sell shares of MedImmune. MedImmune stockholders are urged to read the relevant tender offer documents when they become available because they will contain important information that stockholders should consider before making any decision regarding tendering their shares. At the time the offer is commenced, AstraZeneca will file tender offer materials with the U.S. Securities and Exchange Commission, and MedImmune will file a Solicitation/Recommendation Statement on Schedule 14D-9 with respect to the offer. The tender offer materials (including an Offer to Purchase, a related Letter of Transmittal and certain other offer documents) and the Solicitation/Recommendation Statement will contain important information, which should be read carefully before any decision is made with respect to the tender offer. Investors and security holders may obtain a free copy of these statements (when available) and other documents filed by AstraZeneca or MedImmune with the SEC at the website maintained by the SEC at http://www.sec.gov. The Offer to Purchase and related materials may be obtained for free by directing such requests to AstraZeneca (Investor Relations) at +44 (0) 207 304 5000. The Solicitation/Recommendation Statement and such other documents may be obtained by directing such requests to MedImmune at 301 398 4358.

In addition to the Offer to Purchase, the related Letter of Transmittal and certain other offer documents, as well as the Solicitation/Recommendation Statement, AstraZeneca and MedImmune file annual, quarterly and special reports, proxy statement and other information with the U.S. Securities and Exchange Commission. These documents are available to the public from commercial document-retrieval services and at the website maintained by the U.S. Securities and Exchange Commission at http://www.sec.gov.

Forward-Looking Statements

This press release includes forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995, that are subject to risks, uncertainties and other factors, including the risks to both companies that the acquisition of MedImmune will not be consummated as the transaction is subject to certain closing conditions. In addition, if and when the transaction is consummated, there will be risk and uncertainties related to AstraZeneca’s ability to successfully integrate the products and employees of AstraZeneca and MedImmune. These risks, uncertainties and other factors, and the general risks associated with the respective businesses of AstraZeneca and MedImmune as described in the reports and other documents filed by each of them with the SEC, could cause actual results to differ materially from those referred to in the forward-looking statements. The reader is cautioned not to rely on these forward-looking statements. All forward-looking statements are based on information currently available to AstraZeneca and MedImmune, and neither AstraZeneca nor MedImmune assumes any obligation to update any such forward-looking statements included in this press release.

SOURCE MedImmune, Inc.

CONTACT: Investors, Peter Vozzo, +1-301-398-4358, or Media, Jamie Lacey, +1-301-398-4035, both of MedImmune, Inc.

Significantly expands product pipeline by adding 45 projects including 2 late-stage products and a blockbuster marketed monoclonal antibody, Synagis

Summary

AstraZeneca PLC ( AstraZeneca ) today announced that it has entered into a definitive agreement to acquire MedImmune, Inc. ( MedImmune ), in an all-cash transaction. Under the terms of the agreement, which has unanimous MedImmune Board support, AstraZeneca will acquire all of the fully diluted shares of MedImmune common stock at a price of $58 per share, for a total consideration of approximately $15.6 billion (including approximately $340m net cash).

The acquisition of MedImmune significantly accelerates AstraZeneca’s biologics strategy. The combination of MedImmune with AstraZeneca’s wholly-owned subsidiary Cambridge Antibody Technology ( CAT ) will create a world-class, fully integrated biologics and vaccines business within the AstraZeneca Group with critical mass in research, development, regulatory, manufacturing and global sales and marketing reach.

MedImmune is a world-leading, profitable, biotechnology company with a record of proven success with revenue in 2006 of $1.3bn, profit before tax of $75m and gross assets of $3.0bn.

The acquisition extends AstraZeneca’s R&D science base to allow it to address novel drug targets through 3 key technological approaches: small molecules, biologics and, for the first time, vaccines.

Overall, the combination of MedImmune with AstraZeneca’s existing capabilities will be capable of delivering a greater number of new biologic products to bring benefit to patients in AstraZeneca’s prioritised disease areas.

The deal is expected to close in June 2007.

Highlights and acquisition benefits

R&D capability

• Expands and diversifies AstraZeneca’s science base by establishing an international platform capable of delivering a greater flow of new medicines in AstraZeneca’s prioritised disease areas, embracing small molecules, monoclonal antibodies, next generation biologics and vaccines
• Natural fit between CAT and MedImmune
• Complementary with existing AstraZeneca therapeutic area strengths in Oncology, Infection and Respiratory & Inflammation
• Provides entry into vaccines; through proprietary live attenuated vaccines capability
• Brings significant regulatory experience in making Biologics License Applications
• Enhanced biologics capability positions AstraZeneca as a more compelling licensing partner, improving AstraZeneca’s externalisation position

Manufacturing

• MedImmune is a leader in protein engineering and biologics manufacturing, with a production capacity of over 30,000L planned by 2010 and world leading cell line productivity levels. Through further modest investment, capacity could be increased to over 60,000L. This would secure production requirements for the long-term and avoid the need for major near-term ‘green-field’ manufacturing investment by AstraZeneca to support its biologics strategy

Pipeline

• Adds 2 late-stage assets: the next generation follow-on to ‘Synagis’, ‘Numax’ and refrigerated formulation ‘FluMist’ with an anticipated US launch for 2007-2008 influenza season
• Increases the proportion of biologics in AstraZeneca’s pipeline from 7 percent to 27 percent and enlarges the total pipeline by 45 projects to 163 projects
• Diversifies and expands R&D capability to deliver a greater flow of new biologic products Financial benefits
• Synergies from the acquisition of MedImmune and from related AstraZeneca activities are expected to be towards $500m per annum by 2009
• The acquisition is expected to be cash earnings enhancing in 2009
• The acquisition will be fully funded in cash, bringing improved financial efficiency through balance sheet leverage. Previously announced $4bn share buyback programme for 2007 unchanged
• Addition of attractive marketed products including ‘Synagis’ and ‘FluMist’ to AstraZeneca’s portfolio adds $1.2bn in sales. Consensus sales growth for this portfolio is forecast at 12% CAGR to 2010
• Provides AstraZeneca with several other substantial assets, including a royalty stream on the sales of the HPV vaccines with estimated consensus peak sales of $5.5bn, potential milestones and royalties on MedImmune’s other licensed products and $1.5bn cash, including $89.4m relating to MedImmune Ventures investments at book value

People

• Strong desire to retain employees and maintain culture, with emphasis on retaining key talent and critical skills
• One-time retention grant for employees
• David M. Mott, the Chief Executive Officer and President of MedImmune, and James F. Young, Ph.D., the President, Research and Development of MedImmune, have committed to remain with MedImmune and it is expected that other members of MedImmune’s senior management will stay with the company following the closing
• David M. Mott will take a leadership role within AstraZeneca

Commenting on the Offer, David Brennan, Chief Executive Officer of AstraZeneca, said:

This acquisition represents a transformational step to deliver our biologics strategy sooner than anticipated. It creates a leading fully integrated biologics and vaccines business with critical mass and enhances AstraZeneca’s R&D science base through which we will deliver a stronger product pipeline. MedImmune adds an exciting existing pipeline, including 2 late-stage products, great expertise in biologic drug development and state of the art manufacturing facilities.

We look forward to welcoming MedImmune’s employees into AstraZeneca and are excited by the potential to create significant value for all our shareholders, employees and patients that this acquisition brings.

David M. Mott, CEO and President of MedImmune, said:

“After conducting a full and open process, whereby we evaluated potential interest in the value we have built over our 19 year history, we are very pleased to become a part of AstraZeneca. We believe that this transaction is in the best interest of all parties, including shareholders, employees and ultimately patients. The potential to harness the combined skills and capabilities of MedImmune, AstraZeneca and CAT and take our combined world class biologics capabilities to the next level, is very exciting and a challenge to which I am personally committed.”

The Transaction

The acquisition is structured as an all cash tender offer for all outstanding shares of MedImmune common stock followed by a merger in which each remaining untendered share of MedImmune would be converted into the same $58 cash per share price paid in the tender offer. The acquisition is subject to the satisfaction of customary conditions, including the tender of a majority of the outstanding MedImmune shares on a fully-diluted basis and the expiration or earlier termination of the Hart-Scott-Rodino waiting period and other regulatory approvals. The tender offer will be commenced within 10 working days and is expected to close in June 2007, unless extended. The tender offer is not subject to a financing contingency.

The acquisition price represents a premium of approximately 53.3% to MedImmune’s closing share price of $37.84 on 11th April, 2007, this being the last business day prior to MedImmune’s announcement to explore strategic alternatives.

The transaction has been unanimously recommended by the Board of Directors of MedImmune. The acquisition will be effected pursuant to a merger agreement. The merger agreement contains certain termination rights for each of AstraZeneca and MedImmune and further provides that, upon termination of the merger agreement under specified circumstances, MedImmune may be required to pay AstraZeneca a termination fee of $450 million.

Financing

The total consideration for the acquisition of MedImmune amounts to approximately $15 billion in cash. AstraZeneca will draw from a committed banking facility in the amount of $15 billion to provide the initial financing for the acquisition.

Additional Information

The tender offer described in this press release has not yet commenced, and this press release is neither an offer to purchase nor a solicitation of an offer to sell MedImmune common stock. Investors and security holders are urged to read both the tender offer statement and the solicitation/recommendation statement regarding the tender offer described in this press release when they become available because they will contain important information. The tender offer statement will be filed by AstraZeneca and a subsidiary of AstraZeneca with the Securities and Exchange Commission ( SEC ), and the solicitation/recommendation statement will be filed by MedImmune with the SEC. Investors and security holders may obtain a free copy of these statements (when available) and other documents filed by AstraZeneca or MedImmune with the SEC at the website maintained by the SEC at www.sec.gov. The tender offer statement and related materials may be obtained for free by directing such requests to AstraZeneca (Investor Relations) at +44 (0) 207 304 5000. The solicitation/recommendation statement and such other documents may be obtained by directing such requests to MedImmune (Investor Relations) at 301-398-4358.

Enquiries:
AstraZeneca Media Enquiries:
Steve Brown / Edel McCaffrey (London) (020) 7304 5033/5034
Staffan Ternby (Sweden) (8) 553 26107
Emily Denney (Wilmington) (302) 885 3451
Analyst/Investor Enquiries:
Jonathan Hunt / Mina Blair / Karl HÃ¥rd (London) (020) 7304 5087/5084/5322
Staffan Ternby (Sweden) (8) 553 26107
Ed Seage / Jorgen Winroth (US) (302) 886 4065/(212) 579 0506
Merrill Lynch (Financial Adviser to AstraZeneca) +44 (0) 20 7628 1000
Richard Girling
Deutsche Bank (Joint Corporate Broker to AstraZeneca) +44 (0) 20 7545 8000
Charlie Foreman
Goldman Sachs (Joint Corporate Broker to AstraZeneca) +44 (0) 20 7774 1000
Phil Raper
MedImmune Media Enquiries:
Lori Weiman 240-372-4829
Jamie Lacey 301-398-4035
Analyst/Investor Enquiries:
Pete Vozzo 301-398-4358