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AstraZeneca
Have purchased
Alexian Pharmaceuticals
One of the largest drug mergers of the year was 39 billion dollars for cash and stock or 175 million dollars.
Alexian (Ticker: ALXN) shareholders will receive 60 cash plus 2.1243 AstraZeneca American Depository receipts for each of their shares, a joint statement released on Saturday said. The deal has been approved by the board of both AstraZeneca and Alexian, which is due to close in the third quarter of 2021. Alexian will own 15% of the joint venture.
The University of AstraZeneca (AZN) in Cambridge, UK, is in the late stages of developing the Covid-19 vaccine at Oxford, which is being reviewed by UK and European drug regulators, according to a Wall Street Journal report. AstraZeneca said Alexian’s expertise in complementary biology would accelerate its growing presence in the immune system. AstraZeneca also plans to build Boston – where Alexian is located – its headquarters for rare diseases.
“Alexia has made herself a leader in complementary biology, which is life-changing for patients with rare diseases. This acquisition allows us to increase our presence in immunology. We look forward to welcoming our new colleagues to Alexian so that we can further build our combined expertise of immunology and precision medicine to drive innovation to deliver life-changing drugs to more patients, ”said Pascal Soriot, CEO of AstraZeneca.
The deal comes months later
ABVV
(ABBV) stopped buying Botox maker Allergen in May for its Otox billion dollar purchase. AstraZeneca, which became active in 2020, agreed in September to purchase Dogma Therapeutics for its prehistoric oral PCSK9 inhibitor, which lowers cholesterol.
Alexian is known for the development of the rare disease drugs Altomiris and Solaris, which in 2019 accounted for ઉત્પાદન 4.3 billion in product sales of Alexian’s 5 billion products.
Alexian, an acquisition that has been on receptive power since 2018, is fast-tracking four small drugmakers for a total of ચાર 4 billion. Its latest deal, a ખરીદી 1.4 purchase of Portola Pharmaceuticals, closed in July. The acquisition was unpleasant and Alexian shares fell 5.4% in May. Activist investor Elliott Management also pushed Alexian to sell itself, claiming the company was going in the wrong direction. Shares of Alexian surged after hitting a low of .32.36 in March and closed 1.8% higher at .9 120.98 on Friday. Shares of AstraZeneca rose 0.7% on Friday to close at .2.54.27.
“This transaction marks the beginning of a new exciting chapter for Alexian,” said Alexander CEO Ludwig Hentson, Ph.D., in a statement. “We bring AstraZeneca a strong portfolio, an innovative rare disease pipeline, a talented global workforce and strong manufacturing capabilities in biology.”
Write to Louisa Beltran at [email protected]
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