AstraZeneca’s Alexion Acquisition Nabs EU Clearance
AstraZeneca’s planned acquisition of Alexion Pharmaceuticals, a prominent developer of drugs for rare diseases, has received a green light from the European Commission.
In May, the UK’s Competition and Markets Authority said it would decide by July 21 whether the acquisition warrants a more thorough antitrust probe, which could take up to 32 weeks. That is now the final regulatory requirement to close the deal.
Marc Dunoyer, AstraZeneca’s executive director and chief financial officer, said everything could be complete by the end of September, provided the UK authority doesn’t proceed to a more thorough review.
In December, AstraZeneca announced its plans to acquire Boston-based Alexion for $39 billion in a move to expand its rare disease immunology portfolio. The deal, which has already been cleared in the U.S. by the Federal Trade Commission, would give the Anglo-Swedish drugmaker access to Alexion’s novel immunology drugs Soliris (eculizumab) and Ultomiris (ravulizumab).