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AstraZeneca completes acquisition of Alexion Pharmaceuticals

AstraZeneca completes acquisition of Alexion Pharmaceuticals

AstraZeneca completed the acquisition of Alexion Pharmaceuticals, (Alexion). The closing of the acquisition marks the company’s entry into medicines for rare diseases and the beginning of a new chapter for AstraZeneca.

AstraZeneca now has an enhanced scientific presence in immunology and, through Alexion’s innovative complement-biology platform and robust pipeline, will continue to pioneer the discovery and development of medicines for patients with rare diseases. Rare diseases represent a significant unmet medical need and become a high-growth opportunity for the Company.
 

Pascal Soriot, chief executive officer, said: “Today we welcome our new colleagues from Alexion to AstraZeneca and begin a new chapter that will augment our growth for years to come. Our sustained R&D investment in oncology, cardiovascular and renal, as well as respiratory and immunology, has powered AstraZeneca’s transformation and now we add rare diseases, where fewer approved treatment options exist.”

Marc Dunoyer, incoming chief executive officer, Alexion and chief financial officer, AstraZeneca, said: “I am delighted to be working alongside my new colleagues at Alexion where we will continue to discover, develop and deliver medicines that change the lives of people suffering from rare diseases. We look forward to also applying Alexion’s complement-biology platform across areas of AstraZeneca’s broader early stage pipeline and, significantly, to the extraordinary opportunity to extend existing and future rare disease medicines to patients in many countries where AstraZeneca already has a strong presence.”

The total consideration paid to the Alexion shareholders was approximately US$ 13.3 billion in cash and 236,321,411 new AstraZeneca shares (approximately 94% of which will be represented by new AstraZeneca American Depositary Shares (ADSs)).

AstraZeneca anticipates providing updated 2021 financial guidance for the new, combined entity in due course. Consolidation of Alexion will start from the closing of the transaction and the first quarter of consolidated financial reporting is expected to be the third quarter of 2021 due for announcement on Friday 12 November 2021.

Over 7,000 rare diseases are known today, and only approximately 5% have treatments approved by the US Food and Drug Administration. Demand in medicines for rare diseases is forecasted to grow by a low double-digit percentage in the future.

AstraZeneca completes acquisition of Alexion Pharmaceuticals

Darshana

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More news about: global pharma | Published by Darshana | July - 23 - 2021

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