AstraZeneca Will Buy Alexion for $39 Billion

UK’s AstraZeneca announced on Sunday it had agreed to buy US drugmaker Alexion Pharmaceuticals for $39 billion in its largest-ever deal, diversifying away from its cancer business in a bet on immunology and rare-disease drugs.

UK’s AstraZeneca announced on Sunday it had agreed to buy US drugmaker Alexion Pharmaceuticals for $39 billion in its largest-ever deal, diversifying away from its cancer business in a bet on immunology and rare-disease drugs.

The British company pointed out that Alexion shareholders would receive $60 in cash and about $115 worth of equity per share – either in AstraZeneca’s UK-traded ordinary shares or in dollar-denominated American Depositary Shares.

“It is a tremendous opportunity for us to accelerate our development in immunology, getting into a new segment of disease, a new segment of physicians, and patients we haven’t been able to cover so far,” AstraZeneca Chief Executive Pascal Soriot said in a statement.

The deal comes in a week that the British company said it was conducting further research to confirm whether its COVID-19 vaccine could be 90 percent effective, potentially slowing its rollout, and as a rival shot from Pfizer was launched in the United Kingdom and approved for use in the United States.


© Fourth Estate® — All Rights Reserved.
This material may not be published, broadcast, rewritten or redistributed.