AstraZeneca to buy Alexion for $39 billion

Pin It

Britain’s AstraZeneca has agreed to buy US drug maker Alexion Pharmaceuticals for $39 billion in cash and shares to bolster its positions in immunology and rare diseases. AstraZeneca, one of the frontrunners in the drug industry’s search for a COVID-19 vaccine, said on Saturday that Alexion shareholders would receive $60 in cash and about $115 worth of equity, either in London-traded ordinary shares or in dollar-denominated American Depositary Shares. Based on a reference average ADR price of $54.14, that implies a total price of $175 per share. Alexion shares closed at around $121 apiece on Friday. “This acquisition allows us to enhance our presence in immunology,” AstraZeneca Chief Executive Pascal Soriot said in a statement. “Alexion has established itself as a leader in complement biology, bringing life-changing benefits to patients with rare diseases.”

Source: AstraZeneca to buy Alexion for $39 billion (arabnews.com)


Main campus

Open on location Google Map