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AstraZeneca to acquire Alexion Pharmaceuticals in $39 billion deal
StockMarketWire.com
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Pharmaceutical giant AstraZeneca said it had agreed to acquire rival Alexion Pharmaceuticals in a deal worth $39 billion, bolstering its presence in immunology.
Alexion shareholders would receive $60 in cash and 2.1243 AstraZeneca American depositary shares, representing half an AstraZeneca share.
The acquisition, which required regulatory clearances and approval by shareholders of both companies, was expected to close in the third quarter 2021.
Upon completion, Alexion shareholders would own 15% of the combined group.
AstraZeneca said the deal would bring together two companies with combined strengths in immunology, biologics, genomics and oligonucleotides.
It also said that the combined group was expected to deliver double-digit average annual revenue growth through 2025.
In a separate statement, AstraZeneca said its Trixeo Aerosphere drug had been approved in the European Union for maintenance treatment in adult patients with chronic obstructive pulmonary, or COPD, disease.
AstraZeneca and Daiichi Sankyo Company, meanwhile, announced that their breast cancer drug had been recommended for conditional marketing authorisation in the European Union.
Story provided by StockMarketWire.com
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