AstraZeneca concludes Alexion acquisition for $39bn

AstraZeneca has concluded the acquisition of US-based biopharmaceutical company Alexion Pharmaceuticals for a total consideration of $39bn or $175 per share.

The Alexion shareholders received total consideration of $13.3bn in cash and 236,321,411 new AstraZeneca shares.

With the acquisition, AstraZeneca will enter the rare disease therapies business.

AstraZeneca CEO Pascal Soriot said: “Today we welcome our new colleagues from Alexion to AstraZeneca and begin a new chapter that will augment our growth for years to come.

“Our sustained R&D investment in oncology, cardiovascular and renal, as well as respiratory and immunology, has powered AstraZeneca’s transformation and now we add rare diseases, where fewer approved treatment options exist.”

Alexion develops treatments for immune-mediated rare diseases caused by uncontrolled activation of the complement system, a vital part of the immune system.

Rare diseases signify a growth opportunity with substantial unmet medical needs.

AstraZeneca noted that the company now has an improved scientific presence in immunology.

Leveraging Alexion’s advanced complement-biology platform and pipeline, AstraZeneca will discover and develop treatments for rare diseases.

AstraZeneca chief financial officer and Alexion Pharmaceuticals incoming CEO Marc Dunoyer said: “We look forward to also applying Alexion’s complement-biology platform across areas of AstraZeneca’s broader early-stage pipeline and, significantly, to the extraordinary opportunity to extend existing and future rare disease medicines to patients in many countries where AstraZeneca already has a strong presence.”

The closing of the deal comes after the UK Competition and Markets Authority (CMA) approved the proposed acquisition earlier this month.

In May, the UK CMA launched an investigation into the Alexion acquisition.

The CMA assessed whether the deal would result in a relevant merger situation and if the creation of such a situation will lower competition within any market or in the UK goods or services markets.

The acquisition previously received regulatory clearances in the EU, the US, Japan and other countries worldwide.