UPDATE: Alexion shareholders give approval for takeover by AstraZeneca

(Alliance News) - Massachusetts, US-based drug developer Alexion Pharmaceuticals Inc said late ...

Alliance News 11 May, 2021 | 9:54PM
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(Alliance News) - Massachusetts, US-based drug developer Alexion Pharmaceuticals Inc said late Tuesday that a requisite majority of its shareholders have voted in favour of the company's takeover by Anglo-Swedish drugmaker AstraZeneca PLC.

This was after Astra's own shareholders voted in favour of the deal.

"We're very pleased with today's affirmative shareholder vote, which brings us one step closer to completing a transaction that will accelerate the combined company's ability to develop and provide access to life-changing medicines for patients with rare and devastating diseases around the world," said Alexion Chief Executive Officer Ludwig Hantson.

Alexion said it the takeover is expected to close in the third quarter of 2021.

Cambridge-based pharmaceutical and biotechnology company AstraZeneca agreed to a deal for Alexion in December for USD39 billion to boost its work on immunology. The takeover has already been given the go-ahead by the US Federal Trade Commission in mid-April after competition clearances in Canada, Brazil and Russia, but Astra is still waiting on approval in the UK, EU and Japan.

Shares in Alexion Pharmaceuticals closed 0.2% lower at USD171.41 on Tuesday in New York, and remained flat in after hours trade. Astra's shares closed 1.2% lower at 7,624.00 pence in London.

By Dayo Laniyan; dayolaniyan@alliancenews.com

Copyright 2021 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Rating
AstraZeneca PLC 8,276.00 GBX -1.57
Alexion Pharmaceuticals Inc 180.66 USD -0.02

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Alliance News

Alliance News provides Morningstar with continuously updating coverage of news affecting listed companies.

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