21st Jul 2021 16:48
(Alliance News) - AstraZeneca PLC on Wednesday sealed its acquisition of Alexion Pharmaceuticals Inc in a cash-and-stock deal worth about USD39 billion.
The coronavirus jab maker bought Alexion, a Boston, Massachusetts-based biotech firm specialising in rare diseases, for USD13.3 billion and 236,321,411 new AstraZeneca shares.
The confirmation comes after the UK Competition & Markets Authority cleared the Cambridge-based firm's takeover on July 14.
"Today we welcome our new colleagues from Alexion to AstraZeneca and begin a new chapter that will augment our growth for years to come," said Chief Executive Pascal Soriot.
"Our sustained R&D investment in oncology, cardiovascular and renal, as well as respiratory and immunology, has powered AstraZeneca's transformation and now we add rare diseases, where fewer approved treatment options exist."
Incoming CEO of Alexion and current AstraZeneca Chief Financial Officer Marc Dunoyer said he looks forward to extending "existing and future rare disease medicines" globally.
Over 7,000 rare diseases are known today and approximately 5% have treatments approved by the US Food and Drug Administration.
Shares in AstraZeneca closed marginally higher at 8,459.00 pence each in London on Wednesday.
By Josie O'Brien; [email protected]
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