published on 12/14/2020 at 9:24 am
Photo credit © Reuters
(Boursier.com) – At the forefront of the fight against Covid-19, AstraZeneca has not however forgotten its hobbyhorse, namely treatments against rare diseases and immunology. Proof of this is that the Anglo-Swedish laboratory announced on Saturday the acquisition of the American company Alexion for a value of $ 39 billion! The biggest external growth operation of the firm founded in 1999.
The shareholders of Alexion will receive 60 dollars in cash and 2.1243 American Depositary Shares (ADS) AstraZeneca per share contributed, which gives the “biotech” a valuation of 175 dollars per share, i.e. a premium of 45% compared to its Friday night closing price on Wall Street.
“This acquisition allows us to strengthen our presence in immunology,” said AstraZeneca CEO Pascal Soriot. “Alexion has established itself as a leader in complement biology, providing beneficial advances to patients with rare diseases that can change their lives.”
The boards of directors of the two companies have approved the transaction, which should be finalized in the third quarter of 2021. The transaction will immediately be accretive and create value for AstraZeneca, which intends to set up its pole on rare diseases in Boston.
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