When you linking your Twitter Account Market Wire News Trending Stocks news and your Portfolio Stocks News will automatically tweet from your Twitter account.
Be alerted of any news about your stocks and see what other stocks are trending.
ALXN - Biotech M&A Deal Looks Too Rich For Its Blood
Alexion Pharmaceuticals Inc.
By Breakingviews
Alexion Pharmaceuticals (ALXN) is either buying Portola Pharmaceuticals (PTLA) on the cheap at $1.4 billion, or paying a whopping premium - it all depends on your starting date. The deal means the $22 billion biotech snaps up a promising drug to reverse anticoagulants. The target has been on a downward slide for years, with the shares falling about 80% since the medication, Andexxa, was approved in 2018. But the buyer is shelling out a 132% premium based on Monday's closing stock price. It's more likely Alexion is overpaying.