Rare Daily Staff
The European Commission has cleared AstraZeneca’s proposed acquisition of Alexion Pharmaceuticals, a $39 billion deal intended to strengthen the company’s position in immunology with Alexion’s rare disease portfolio of complement inhibitors.
The clearance follows clearances for the transaction in the United States, Japan and other countries globally. Regulatory clearance in the United Kingdom is pending and remains a requirement to complete the deal. The combined company is expected to deliver double-digit average annual revenue growth through 2025.
“We are now another step closer to closing the acquisition and combining the two companies to create a leader in immunology and precision medicines,” said Marc Dunoyer, executive director and chief financial officer for AstraZeneca. “We continue to progress towards the completion of the acquisition during this quarter.”
Rare diseases represent a high-growth disease area with rapid innovation and significant unmet medical needs. Shareholders approved the acquisition in May. Once completed, Alexion will become “Alexion, AstraZeneca Rare Disease,” and will be headquartered in Boston.
Alexion has pioneered complement inhibition for a broad spectrum of immune-mediated rare diseases caused by uncontrolled activation of the complement system, a vital part of the immune system. Alexion’s franchise includes Soliris, a first-in-class C5 monoclonal antibody for the treatment of patients with paroxysmal nocturnal hemoglobinuria, atypical hemolytic uremic syndrome, generalized myasthenia gravis, and neuromyelitis optica spectrum disorder. More recently, Alexion launched Ultomiris, a second-generation C5 monoclonal antibody with a more convenient dosing regimen. Alexion has a total of five approved therapies and an extensive development pipeline.
Photo: Marc Dunoyer, executive director and chief financial officer for AstraZeneca