AstraZeneca Clears Final Hurdle for Acquisition of Alexion

The UK Competition and Markets Authority has cleared AstraZeneca’s $39 billion acquisition of Alexion Pharmaceuticals intended, a transaction intended to strengthen the company’s position in immunology with Alexion’s rare disease portfolio of complement inhibitors.

Photo: Marc Dunoyer, executive director and chief financial officer for AstraZeneca

The UK approval was the final hurdle for the transaction to go through. It followed the European Commissions approval of the deal in early July. With this final clearance, the acquisition is expected to close on 21 July 2021. The combined company is expected to deliver double-digit average annual revenue growth through 2025.

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.

“We look forward to the imminent closing of the transaction so that we may pursue our shared ambition to bring more innovative medicines to patients worldwide and begin AstraZeneca’s next chapter of growth,” said Marc Dunoyer, executive director and chief financial officer for AstraZeneca.

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.

Author: Rare Daily Staff