AstraZeneca announced on Saturday that it is acquiring Alexion Pharmaceuticals in a $39 billion deal, a measure to stimulate AstraZeneca's immunology research and combine the company's delivery pipelines. AstraZeneca PLC of Cambridge, England, which is part of an effort to develop a COVID-19 vaccine, said Saturday that it is using a combination of cash and shares for the acquisition of Alexion Pharmaceuticals Inc. of Boston.
The two companies' boards of directors unanimously approved the transaction, which has yet to be approved by regulators and shareholders. It is expected that the transaction will be completed in the third quarter of 2021. The Company offered Alexion shareholders a total of approximately $175 per share, a 46% bonus in excess of $120.98, the date on which Alexion's shares closed Friday's session.
AstraZeneca and Oxford University jointly developed a coronavirus vaccine that is currently being evaluated by the UK and Canadian regulators, in parallel with a rival effort by American drugmaker Pfizer and Germanys BioNTech which has already obtained certain emergency approvals, and another from the US biotechnology company Moderna.
"We bring to AstraZeneca a strong portfolio, innovative rare disease pipeline, a talented global workforce and strong manufacturing capabilities in biologics," said Ludwig Hantson, chief executive of Alexion.
AstraZeneca stated that it intended to open a new research headquarters in Boston, as part of its road map to combine the two companies.