ACHN - ACHN Stock Soars 70% Following Acquisition By Alexion Pharmaceuticals

ACHN stock has gained 70% today after it was announced that Alexion Pharmaceuticals (NASDAQ:ALXN) would acquire Achillion Pharmaceuticals (NASDAQ:ACHN) in a deal worth $930 million USD.

In a move that will allow Alexion to consolidate its status as a market leader in treating rare blood disorders, it will pay a 73% premium in order to take control of Achillion’s two experimental treatments for paroxysmal nocturnal hemoglobinuria (PNH), a market it has dominated with its flagship drug Soliris. Alexion Pharmaceuticals now faces various patent challenges and is attempting to ...