Mumbai, June 25, 2002: Astra Pharmaceuticals AB has increased its stake in its Indian subsidiary, AstraZeneca Pharma India Limited from 56.5% to 87%, for a consideration of approximately Rs. 57 crores, through an open offer that closed on June 21, 2002.

The open offer, made at Rs 375 a share and managed by DSP Merrill Lynch, received a good response with leading institutional shareholders and 3,900 retail investors tendering their shares. The offer was aimed at increasing the AstraZeneca group's holding in its Indian subsidiary to 100%, in line with its global practice of fully owning all its operating units.

AstraZeneca Pharma India Limited is a Rs. 90 crores company that manufactures and markets a range of cardiovascular, inhalation, cough, anaesthetics and maternal healthcare products. AstraZeneca group is one of the world's leading pharmaceutical companies with 2001 sales of $16.5 bn and research spend of $2.7 bn. Headquartered in London, the group has operations in over 100 countries.