Reuters
- AstraZeneca on Saturday said it would acquire Alexion Pharmaceuticals for $39 billion.
- “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,” said Pascal Soriot, chief executive of AstraZeneca, in a joint press statement.
- AstraZeneca said it had offered shareholders cash and stock worth about $175 per share, an about 45% premium from Friday’s close at $120.98 per share.
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AstraZeneca on Saturday announced it was acquiring Alexion Pharmaceuticals in a $39 billion deal, a move intended to boost AstraZeneca’s immunology research and combine the company’s delivery pipelines.
“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,” said Pascal Soriot, chief executive of AstraZeneca, in a joint statement.
The UK drugmaker offered Alexion shareholders a total of about $175 per share, a 46% premium over $120.98, where Alexion shares closed Friday’s session. Shareholders will receive $60 cash and about 2.1 AstraZeneca US shares, under the proposed deal, which will require regulatory sign-off.
Both boards unanimously approved the deal, which is expected to close in the third quarter of 2021. Alexion shareholders will hold about 15% of the combined company.
“We bring to AstraZeneca a strong portfolio, innovative rare disease pipeline, a talented global workforce and strong manufacturing capabilities in biologics,” said Ludwig Hantson, chief executive of Alexion.
AstraZeneca said it planned to open a new research headquarters in Boston, as part of its roadmap to combine the two companies.