AstraZeneca to buy Alexion in $39 billion deal
pharmafile | December 14, 2020 | News story | Sales and Marketing | Alexion, AstraZeneca, merger
British-Swedish AstraZeneca is set to acquire American biopharmaceutical company Alexion for $39 billion, in a move that will see a rare diseases and immunology specialist join its portfolio of treatments for cancer and other illnesses.
The deal, confirmed on Saturday, is the biggest in AstraZeneca’s twenty-year history. The transaction values Alexion at $175 per share, with the US company’s shareholders set to receive $60 in cash per share and own around 15% of the combined company.
Both companies’ boards of directors have unanimously approved the acquisition, which is expected to close in the third quarter of 2021.
Alexion specialises in developing therapies for those living with rare disorders, and is involved in immune system research related to autoimmune diseases. The company’s best-selling product is Soliris, a drug approved in several countries for the treatment of immune-related conditions such as paroxysmal nocturnal haemoglobinuria (PNH), which causes anaemia and blood clots. AstraZeneca is hopeful that Ultromiris, an improved version of Soliris, will be even more successful.
AstraZeneca’s acquisition of Alexion will help the UK-based company reach its long-term goal of developing novel medicines in areas of immunology. Rare disease is an area of rapid innovation and significant unmet medical need – while over 7,000 rare diseases are known today, only around 5% have US Food and Drug Administration-approved treatments.
Chief Executive Officer at AstraZeneca, Pascal Soriot, said: “Alexion has established itself as a leader in complement biology, bringing life-changing benefits to patients with rare diseases. This acquisition allows us to enhance our presence in immunology. We look forward to welcoming our new colleagues at Alexion so that we can together build on our combined expertise in immunology and precision medicines to drive innovation that delivers life-changing medicines for more patients.”
The deal comes as AstraZeneca says it is conducting research to confirm whether its COVID-19 vaccine, which is being developed in partnership with Oxford University, could be up to 90% effective in protecting against the virus. The UK has secured 100 million doses of the Oxford-AstraZeneca jab, which has been found to protect against symptomatic coronavirus in 70% of cases.
Darcy Jimenez
Related Content
ANGLE signs commercial agreement with AstraZeneca
ANGLE has announced that it has signed a supplier agreement with AstraZeneca for the development …
AstraZeneca shares results for Imfinzi in phase 3 trial for small cell lung cancer
AstraZeneca has announced positive high-level results from the phase 3 ADRIATIC trial, which demonstrated that …
FDA accepts BLA for AstraZeneca and Daiichi Sankyo’s datopotamab deruxtecan for breast cancer treatment
AstraZeneca and Daiichi Sankyo have announced that their Biologics License Application (BLA) for datopotamab deruxtecan …
