AZN - AstraZeneca to acquire Alexion bulking up rare disease portfolio

Big pharma’s pivot to rare diseases continues as AstraZeneca (AZN) acquires Alexion Pharmaceuticals (ALXN) in a deal worth $39B.Subject to shareholder approval and certain regulatory clearances, the companies expect the deal to close in Q3 2021.The combined company is set to generate ~$500M of recurring run-rate of pre-tax synergies per year with full run-rate expected to be achieved by the end of the third year, following the closure of the acquisition.Under the terms of the agreement, the Alexion shareholders will receive $60 in cash and 2.1243 new AstraZeneca ADSs listed on the Nasdaq exchange for each of their Alexion shares. The consideration amounts to ~45% of premium to Alexion’s closing share price on Friday. AstraZeneca has entered into a bridge-financing facility to finance the deal.The duo will work together to build on ‘Alexion's pipeline of 11 molecules across more than 20 clinical-development programs across the spectrum of indications, in rare

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AstraZeneca to acquire Alexion bulking up rare disease portfolio