[News] AstraZeneca buys biotech company Alexion, for $ 39 billion

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The British pharmaceutical group AstraZeneca announced on Saturday the purchase of the American biotechnology company Alexion, specializing in rare diseases, for 39,000 million dollars.

The boards of directors of both groups approved the merger, AstraZeneca explained in a statement, which represents the largest merger operation in the sector since the health crisis broke out.

The purchase coincides with the work being done by the British group together with the University of Oxford to develop a vaccine against covid-19, whose first results indicate an efficacy of 70%.

AstraZeneca, specializing in oncology, cardiovascular and respiratory diseases, will reinforce with Alexion its position in the fields of immunology and research on rare diseases.

The deal values each Alexion share at $ 175, or a total of $ 39 billion for the entire company.

The operation still has to have the usual regulatory permits and that of the shareholders of both groups, and it is expected that it can be closed in the third quarter of 2021.

Following the purchase, Alexion shareholders will own 15% of the new group.

"Alexion has emerged as a leader in helping rare disease patients. This purchase enables us to strengthen our presence in immunology," stated Pascal Soriot, CEO of AstraZeneca.

For Ludwig Hantson, president of the American biotech company, this is "an exciting new chapter for Alexion."

"We bring a strong portfolio to AstraZeneca, innovatively developed treatments for rare diseases, talented collaborators and strong manufacturing capabilities," he listed.

AstraZeneca said that the purchase will stimulate short-term benefits and synergies of $ 500 million before taxes by the end of the third year following the acquisition.

To finance this giant purchase, the British will receive a loan of 17,500 million dollars from several American banks.