AstraZeneca has agreed to buy Alexion Pharmaceuticals for $39 billion in cash and stock, adding a rare disease and immunology player to its cancer and other diseases group.
The deal, which values Alexion per share at $175, 45% higher than Friday’s closing share price, would be AstraZeneca’s largest deal since its founding in 1999 with the merger of British and Swedish companies together, cementing the company’s position among the top 10 pharmaceutical companies in the world.
This deal will also support the company in several areas such as treating blood disorders, since since Pascal Soriot took over as the new CEO in 2012, the company has headed into lucrative fields such as oncology, and currently AstraZeneca has partnered with Oxford University to develop a vaccine for the virus. Corona.
According to the deal, Alexion will incur a fee of $1.2 billion if it agrees to sell itself to a higher bidder, while AstraZeneca will face a $1.4 billion fine if it terminates the contract, and the deal is expected to close in the third quarter of 2021. Alexion holds 15% of the two merged companies.
According to reports, Alexion generated sales of $5.9 billion in the 12 months ending in the third quarter of 2020, bringing its growth rate to 24%. On the other hand, AstraZeneca shares are up 7% this year and nearly 70% over the past three years. With a market value of £107 billion ($142 billion).