25th May 2021 09:45
(Alliance News) - AstraZeneca's USD39 billion takeover of Massachusetts, US-based drug developer Alexion Pharmaceuticals Inc faces a UK antitrust probe, the Competition & Markets Authority said on Tuesday.
The CMA will look into whether the deal creates a "substantial" reduction in competition in the UK.
The regulator is inviting comments on the transaction to aid with its assessment. The deadline for its phase one decision is July 21.
Earlier this month, both Alexion and AstraZeneca's shareholders voted in favour of the deal.
Cambridge-based pharmaceutical and biotechnology company AstraZeneca agreed to buy Alexion in December for USD39 billion to boost its work on immunology. The takeover has already been given the go-ahead by the US Federal Trade Commission in mid-April after competition clearances in Canada, Brazil and Russia, but Astra is still waiting on approval in the UK, EU and Japan.
AstraZeneca shares were 0.4% lower at 8,115.00 pence each in London on Tuesday morning. Alexion shares closed up 0.2% at USD178.04 each in New York on Monday, valuing the company at USD39.35 billion. The stock was unchanged during pre-market trading on Tuesday.
By Eric Cunha; [email protected]
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