LONDON -(Dow Jones)- AstraZeneca PLC (AZN.LN) said Friday that it purchased for cancellation 311,816 of its ordinary shares at 2727 pence per share on May 3.

Shares closed Thursday at 2727.5 pence valuing the company at GBP34.62 billion.

-By Ian Walker, Dow Jones Newswires; 44-20-7842-9296; ian.walker@dowjones.com