AstraZeneca & Alexion deal reviewed by the CMA

AstraZeneca & Alexion deal reviewed by the CMA

AstraZeneca is under scrutiny from UK’s competition regulator regarding the purchase of Alexion Pharmaceuticals

The Anglo-Swedish drugmaker has agreed to purchase the US Alexion Pharmaceuticals for $39 billion. This deal, which would be AstraZeneca’s largest to date, was first announced in December 2020. The former is trying to diversify its portfolio, from the cancer business to rare-disease and immunology drugs.

According to AstraZeneca’s statement, when it announced the possible deal, Alexion shareholders would receive $60 in cash and approx. $115 worth of equity per share. The British company said that boards of both firms had approved the deal, and it is to be closed in Q3 2021.

So far, the US, Canada, Brazil, and Russia cleared the deal. Still, the British regulator is concerned that the agreement could minimize competition in the UK or elsewhere. The Competition and Markets Authority (CMA) set a deadline for June 3, as it expects comments from any interested party on the deal to help its assessment.

At the moment of writing, AstraZeneca stock price is trading 0.12% higher, while Alexion closed Monday’s trading session up 0.18%.

Sources: finance.yahoo.com, reuters.com

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