AZN - With the Alexion Acquisition Set to Close This Quarter Is AstraZeneca a Buy?
This week, pharma and biotech giant AstraZeneca (NASDAQ: AZN) cleared its final hurdle in the proposed acquisition of orphan drug pharma company Alexion Pharmaceuticals (NASDAQ: ALXN) when it announced that the deal had received clearance from the United Kingdom's Competition and Markets Authority (CMA) on July 14.
The $39 billion acquisition, which was announced last December and unanimously approved by boards of directors at both AstraZeneca and Alexion Pharmaceuticals -- as well as overwhelmingly supported by shareholders of both companies -- will "create a leader in immunology and precision medicines," as AstraZeneca CFO Marc Dunoyer put it in May.
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With the Alexion Acquisition Set to Close This Quarter, Is AstraZeneca a Buy?