AstraZeneca is set to buy Ardea Biosciences Inc in a $1.26 billion acquisition of the drug treatment firm specialising in gout and cancer.

The move will see AstraZeneca, the U.K.’s second largest drugmaker bolstered by the purchase of Ardea . The move will bring new treatments to a company that has suffered recent setbacks in product development and from facing strong completion from rival firms.

Barry D. Quart, President and Chief Executive Officer of Ardea, said “From our earliest interactions, we were impressed with the quality of AstraZeneca's people and we are confident their commercial strength and global reach will help realise the full potential of our programmes.”