AstraZeneca to acquire Alexion Pharmaceuticals for $39 billion
Pharmaceutical company AstraZeneca announced it will acquire Alexion Pharmaceuticals, a U.S.-based company focused on rare diseases, for approximately $39 billion. The deal aims to bolster AstraZeneca's immunology capabilities.
AstraZeneca has entered into a definitive agreement to acquire Alexion Pharmaceuticals, a company specializing in treatments for rare diseases, for approximately $39 billion. The transaction is expected to significantly strengthen AstraZeneca's position in the field of immunology and expand its portfolio for rare conditions.
The acquisition will be executed through a combination of cash and stock. Alexion shareholders will receive $60 in cash and 2.1243 AstraZeneca American Depositary Shares (ADSs) per Alexion share, valuing the deal at approximately $175 per share. The boards of directors of both companies have unanimously approved the transaction.
The deal is anticipated to enhance AstraZeneca's immunology expertise by integrating Alexion's advanced complement-technology platforms and robust pipeline for rare diseases. Alexion's dedicated rare disease unit is planned to be headquartered in Boston.
AstraZeneca projects the acquisition will accelerate its strategic and financial development, leading to double-digit revenue growth through 2025. The company also anticipates improved operating margins and cash flow, enabling rapid debt reduction and a potential increase in dividend. The acquisition is expected to be immediately core earnings-accretive and value-enhancing.