AZ scores final clearance for Alexion acquisition in the UK

AstraZeneca (AZ) is expecting its acquisition of Alexion Pharmaceuticals to close on 21 July after receiving final clearance from the UK Competition and Markets Authority (CMA).

The UK approval of the merger comes just a week after AZ scored clearance of the proposed acquisition from the European Commission (EC).

AZ initially revealed its plan to acquire Alexion for approximately $39bn last year, in a bid to establish a specialist rare disease pipeline in the process.

Alexion’s portfolio of rare disease meds includes Soliris (eculizumab), a first-in-class anti-complement component 5 (C5) monoclonal antibody and Ultomiris (ravulizumab), a second-generation C5 monoclonal antibody.

In a statement, AZ said rare disease represent a ‘high-growth’ opportunity, adding that its own shareholders, as well as Alexion’s, overwhelmingly voted in support of the acquisition in May.

“We are very pleased to have secured this critical final clearance from the UK Competition and Markets Authority for the acquisition of Alexion,” said Marc Dunoyer, executive director and chief financial officer of AZ.

“We look forward to the imminent closing of the transaction so that we may pursue our shared ambition to bring more innovative medicines and medical health supplies to patients worldwide and begin AstraZeneca’s next chapter of growth,” he added.

Following the closing of the acquisition, AZ will create a group focused solely on rare diseases named ‘Alexion, AstraZeneca Rare Disease’ with headquarters in Boston, US.