Macclesfield and Alderley Park based biosciences firm, AstraZeneca, has confirmed a $39 billion acquisition deal with American firm, Alexion Pharmaceuticals.
Shareholders of the US firm will receive approximately $175 per share in the deal, that is expected to close subject to regulatory approval in Q3 of 2021.
Alexion Pharmaceuticals is best known for its development of drugs to treat rare immune disorders and its acquisition allows AstraZeneca to strengthen its growing presence in immunology research as well as enable Alexion to reach more markets for its therapies.
Pascal Soriot, Chief Executive Officer, AstraZeneca, 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. We look forward to welcoming our new colleagues at Alexion so that we can together build on our combined expertise in immunology and precision medicines to drive innovation that delivers life-changing medicines for more patients.”
Dr Ludwig Hantson, Chief Executive Officer, Alexion, said:
For nearly 30 years Alexion has worked to develop and deliver transformative medicines to patients around the world with rare and devastating diseases. I am incredibly proud of what our organisation has accomplished and am grateful to our employees for their contributions. This transaction marks the start of an exciting new chapter for Alexion.
“We bring to AstraZeneca a strong portfolio, innovative rare disease pipeline, a talented global workforce and strong manufacturing capabilities in biologics. We remain committed to continuing to serve the patients who rely on our medicines and firmly believe the combined organisation will be well positioned to accelerate innovation and deliver enhanced value for our shareholders, patients and the rare disease communities.”
AstraZeneca was advised in the deal by Evercore Partners, Centerview Partners UK, Ondra, Morgan Stanley, and Freshfields Bruckhaus Deringer, with financing underwritten by Goldman Sachs Bank USA and JP Morgan. Alexion Pharmaceuticals was advised by Bank of America Securities and Wachtell Lipton Rosen & Katz.