TOP NEWS: AstraZeneca gets takeover clearance ahead of Alexion deal

(Alliance News) - AstraZeneca PLC's proposed takeover of Alexion Pharmaceuticals Inc has received ...

Alliance News 6 July, 2021 | 8:50AM
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(Alliance News) - AstraZeneca PLC's proposed takeover of Alexion Pharmaceuticals Inc has received clearance from the European Commission, it announced on Tuesday.

The pharmaceutical firm has received competition approvals in the US, Japan and other countries, though it is still awaiting clearance in the UK.

"We are now another step closer to closing the acquisition and combining the two companies to create a leader in immunology and precision medicines," commented Chief Financial Officer Marc Dunoyer.

"We continue to progress towards the completion of the acquisition during this quarter."

AstraZeneca is buying Boston, Massachusetts-based biotech firm Alexion in a cash-and-stock deal that was worth around USD39 billion when the acquisition was first announced back in December.

The deal would "enhance the company's scientific presence in immunology", Astra said.

After the acquisition is complete, a new group focusing on rare diseases will be created named Alexion, AstraZeneca Rare Disease, and will be headquartered in Boston.

Dunoyer will move to become chief executive officer of Alexio and group chief strategy officer, while Alexion CFO Aradhana Sarin will become CFO of AstraZeneca.

Shares in AstraZeneca were up 0.2% to 8,691.00 pence in early morning trading in London. Alexion closed up 0.6% in New York on Friday last week at USD186.28.

By Will Paige; willpaige@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 8,556.00 GBX -1.77
Alexion Pharmaceuticals Inc

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