Astra Completes Restructuring Agreement with Merck

Astra AB has completed a restructuring agreement with Merck Co., Inc. whereby the businesses of Astra Merck, Inc. and Astra's wholly owned subsidiary, Astra USA, Inc., have combined to create a new U.S. limited partnership, Astra Pharmaceuticals, L.P.

Astra Pharmaceuticals, with headquarters in Wayne, PA, and production and development facilities in Westborough, MA, had pro forma 1997 sales of approximately $2.7 billion, representing about 40% of Astra Group sales.

"We are well-positioned to enter the U.S. market as the leading pharmaceutical company in the gastrointestinal area, and also with an established presence in the cardiovascular field, as well as a rapidly expanding respiratory business," said Carl-Gustaf Johansson, president and CEO of Astra Pharmaceuticals.

Astra, based in Sweden, is an international pharmaceutical company in the development of gastrointestinal, cardiovascular, respiratory and pain control products.

For more information: Michael Olsson, Astra AB. Tel: +46-8-553-259-52.