AstraZeneca acquires US drug developer Alexion in massive $39 billion deal

UK-based Pharmaceutical firm AstraZeneca announced signing a $39 billion deal to acquire the US drug developer Alexion on Saturday, December 12. The Boston-based Alexion Pharmaceuticals Inc. and AstraZeneca have entered into a definitive agreement wherein Alexion shareholders will receive $60 in cash and 2.1243 AstraZeneca American Depositary Shares for the acquisition, which is currently subject to regulatory clearances and approval by shareholders of the two firms. Alexion announced in a release that both the companies unanimously approved the deal with total consideration of the shareholders. 

AstraZeneca Chief Executive Officer 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." He further added that the two Pharma companies were, in fact, now looking at mutual coordination to build on the combined expertise in immunology and precision medicines to drive an innovation that creates life-changing medicines for patients worldwide.

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Alexion Chief Executive Officer Ludwig Hantson, on the other hand, hailed the acquisition as beneficial for the two companies, adding that the transaction marks the start of an exciting new chapter for the US firm. According to the company release, the acquisition is expected to close in the third quarter of 2021, post which Alexion shareholders will own 15 percent of the combined company.

"Combined companies will bring together two rapidly converging, patient-centric models of care delivery with combined strengths in immunology, biologics, genomics, and oligonucleotides to drive future medicine innovation," the firms asserted in an official statement.

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Developing COVID-19 vaccine

AstraZeneca has been developing an effective COVID-19 vaccine in collaboration with the UK’s University of Oxford. Thus far, the experimental candidate achieved moderate efficacy in preventing symptomatic SARS-coV-2 as per the data from the company’s four clinical trials.

The company said in a release that it intends to expand its geographical footprint among the emerging markets, and at the same time accelerate Alexion's presence worldwide. Meanwhile, the UK has started inoculating its population with Food and Drug Administration approved Pfizer’s vaccine, which has also recently been approved for emergency use authorization in the United States as well. 

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