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Because while leading assets such as Bitcoin (BTC) and Ethereum (ETH) are climbing in value, a select group of public “crypto stocks” are surging right along with them. GCR (Global Competition Review) is the world's leading antitrust and competition law journal and news service. However, next year’s Democrat-led FTC could take a close look at the merger, particularly because of the increased discussion about the competitive effects of large pharmaceutical transactions. AstraZeneca's (AZN) $39 billion splurge to acquire Alexion Pharmaceuticals (ALXN) looks like a winner -- as long as it can hang on at that price tag.The European pharmaceuticals giant said Saturday it would acquire the rare-disease specialist for $175 a share, with just over one-third of that payable in cash and the remainder in stock. However, since its vaccine has a range of advantages over its rivals, AstraZeneca would be one of the winners of the COVID-19 vaccination. ALXN 1.78%. AstraZeneca, the maker of blockbuster cholesterol medication Crestor, notched nearly $25 billion in revenue in 2019, while Alexion… Written by: Greg Brown Anglo-Swedish pharmaceutical giant AstraZeneca is set to acquire the US-based rare diseases firm Alexion for $39 billion in the 3 rd quarter of 2021, making it the largest pharmaceutical transaction worldwide since the start of the COVID-19 pandemic. RELATED: The top 10 takeover targets in biopharma | 1. AstraZeneca ’s. AstraZeneca will pay $39 billion to acquire Alexion in an immunology-driven deal that drives the British drugmaker closer to CEO Pascal Soriot's $40 billion revenue goal by 2023. Upon completion, Alexion shareholders will own approximately 15% of the combined company. Join now to get the NewsHeater.com pre-market morning brief 100% free. Biotech firm AstraZeneca plc (AZN) recently announced the acquisition of biotech company Alexion Pharmaceuticals (ALXN) on Saturday 12 December. All rights reserved. But while the deal seems unlikely to run afoul of antitrust regulators, AstraZeneca shareholders shouldn't count on that extra dividend boost just yet. The company recently pivoted to develop a COVID-19 vaccine, AZD1222, in a partnership with the University of Oxford, and it's also working on an anti-coronavirus antibody cocktail. AstraZeneca has just signed an agreement with Alexion, as the deal needs the approval of the antitrust regulators and will be completed by the third quarter of 2021 at the latest. Enclose phrases in quotes. Even during the COVID-19 crisis, such drugs sold well. “Alexion has established itself as a leader in complement biology, bringing life-changing benefits to patients with rare diseases,” AstraZeneca CEO Pascal Soriot said in a statement. Since the announcement of acquisition deal, AZN shares fell about -10% while that of ALXN rose by 27%. Around the same time, AstraZeneca will obtain a variety of unique drugs due to the purchase of Alexion, including for the treatment of rare diseases associated with metabolic disorders. Alexion investors have had concerns over the company’s over-reliance on the Soliris-Ultomiris franchise. Astrazeneca has received significant attention this year for its effort in the fight against coronavirus. At close of the trading session on Tuesday, AstraZeneca plc (AZN) stock was down -1.91% to $48.73, while Alexion Pharmaceuticals (ALXN) stock fell just -0.66% to end the session at $153.81. Allen & Overy acted as advisers to the group of lenders providing the bridge-financing facility intended to cover the cash portion and associated costs of the USD39 billion acquisition of Alexion Pharmaceuticals Inc. (Alexion) by AstraZeneca, which was announced on 12 December 2020. AstraZeneca's big prize in this deal is the blood disorder treatment Soliris, which generates roughly $5 billion in annual sales. Alexion Pharmaceuticals. AstraZeneca boasts a strong position in cancer, led by lung cancer drug Tagrisso, PARP inhibitor Lynparza and PD-L1 agent Imfinzi. Freshfields is representing AstraZeneca in the $39 billion acquisition of Alexion Pharmaceuticals announced December 12. AstraZeneca’s $39 billion deal for Alexion and Gilead’s $21 billion acquisition of Immunomedics rank among the top 10 biotech and pharma M&A deals in 2020. In comparison, AZ’s global sales hit $23.6 billion in 2019, a year-over-year boost of 12%. We do not sell or share your information with anyone. In the deal—the “biggest by a health care company this year”—will help AstraZeneca expand into the immunology sector - NYTimes and WSJ and Bloomberg and MarketWatch and Law360 Turns out FireEye was far from the only victim of suspected Russian-led hacking in recent months. Alexion Pharmaceuticals is spending $930 million in cash to acquire Achillion Pharmaceuticals, a Pennsylvania-based company developing drugs for some of the same diseases Alexion targets. A press release on the company's website has launched... MongoDB Inc. (MDB) posted a strong fiscal year-end and fourth-quarter report. However whereas the deal appears unlikely to run afoul of antitrust regulators, AstraZeneca shareholders shouldn’t depend on that additional dividend enhance simply but. The deal will be undertaken through a US statutory merger. Mergers & Acquisitions After a deal announcement, our M&A team succinctly identifies the antitrust and regulatory risks facing the merging parties. In 2020, this portfolio will produce revenue of $840 million. Alex Wilts. AstraZeneca stocks recovered only slightly to trade 4.8% lower on the London Stock Exchange in mid-morning trading. The Boston biotech has made several M&A moves itself, but not exactly to investors’ satisfaction. AstraZeneca boasts a strong position in cancer, ... Allergan returned the anti-IL-23 antibody to win antitrust clearance for its $63 billion merger with AbbVie. looks like a winner—as long as it can hang on at that price tag. The funding will be based on a $ 17.4 billion bridge facility provided … Now, AZ’s buying Alexion for its knowledge in immune-mediated diseases. Use a + to require a term in results and - to “Alexion’s franchise is far more valuable in the hands of a large diversified company than it is independently,” Porges said, adding that rare diseases are one of the most attractive business segments in biopharma. It’s free. “It is a tremendous opportunity for us to accelerate our development in immunology, getting into a new segment of disease, a new segment of physicians, and patients we haven’t been able to cover so far,” AstraZeneca Chief Executive Pascal Soriot told a media call. 1 pick on Fierce Biotech's most recent biopharma acquisition target roster, compiled with Jefferies analyst Jared Holz. Holz previously noted that Alexion has been one of the cheapest stocks among mid- to large-cap biotechs based on its price-earnings ratio. The British pharmaceutical titan announced on Saturday it is equally committed to rare diseases, agreeing to buy drug-maker Alexion Pharmaceuticals for $39 billion in cash and stock. Reproduction in whole or part is prohibited. AstraZeneca is paying a 45% premium to Alexion's Friday closing price. Fried Frank acted as counsel to BofA Securities as financial advisor to Alexion in its US$39b definitive agreement to be acquired by AstraZeneca. Alexion shareholders will own approximately 15 percent of AstraZeneca following the purchase. Last year, the biotech brought in sales of $5 billion, up 21% year over year, led by blockbuster rare disease med Soliris. Freshfields mounted a global team to handle corporate/M&A, finance, compensation and benefits, tax, antitrust, foreign investment, IP, data privacy, securities law, and capital markets aspects of this historic merger. GCR also features guest commentary and articles from the world's leading competition law and antitrust practitioners. Subscribe to FiercePharma to get industry news and updates delivered to your inbox. Alexion could possibly be engaging to different suitors, too. The deal is driven by AstraZeneca’s desire to build a stronger presence in immunology—and to give its top line an immediate boost. The $39 billion price tag roughly falls in Porges’ previous estimate of $34 billion at a “reasonable” premium of around 50%. The takeover will... Peloton Interactive (PTON) Is Going To Start Selling Exercise Bikes In Australia, Here Is How MongoDB Inc. (MDB) Will Keep Your Portfolio Healthy, Surge Continued For Stitch Fix (SFIX) Stock On 10th Day OF Quarterly Results, Varonis Systems (VRNS) Stock Added 103% Last Year, Sees Better Prospects Ahead, Armstrong Flooring Inc (AFI) Hitting the mark, Examining the Technicals of Levi Strauss & Co (NYSE: LEVI), 8×8 Inc (EGHT) Joins hand with Verint Systems Inc. (VRNT), The Goodyear Tire & Rubber Company (GT): Keeping an Eye On The Long Term. ... From peanut farmers to the US Soccer Federation to generic drugs, the antitrust world kept moving in 2020 even when the rest of life left us feeling like Bill Murray stuck in a small Pennsylvania town. AZN 0.71%. In July, Alexion ditched development of its lead asset from a $930 million Achillion buyout in the C3 glomerulopathy indication after disappointing phase 2 data. A Backdoor Way To Profit From Today’s Crypto Bull Market. Alexion Pharmaceuticals. The European pharmaceuticals giant said Saturday it would acquire the rare-disease specialist for $175 a share, with just over one-third of that payable in cash and the remainder in stock. Join now to get the Newsheater.com pre-market morning brief 100% free. Alexion is a global biopharmaceutical company focused on serving patients and families affected by rare diseases through the discovery and development and commercialization of life-changing medicines. But while the deal seems unlikely to run afoul of antitrust regulators, AstraZeneca shareholders shouldn't count on that extra dividend boost just yet. On December 12, 2020, AstraZeneca announced an agreement with Alexion Pharmaceuticals, Inc. to acquire Alexion for a total consideration of US$39 billion in cash and stock. And Alexion management has set a 2025 revenue target of about $9 billion to $10 billion. Alexion Pharmaceuticals. “[I]n today’s inflated market, we believe investors could demand more from AstraZeneca, or another acquirer,” he wrote in a Saturday note. But AZ highlighted Alexion’s success in transitioning more than 70% of paroxysmal nocturnal hemoglobinuria patients from Soliris to Ultomiris in less than two years as proof of Alexion’s skillful commercial execution. The deal represents a 45% premium on Alexion’s share price on Friday. “This is such a scarce and high-quality asset that in this instance, the final transaction price may need to reach $200 to satisfy Alexion’s shareholders, or to be based more in cash, rather than predominantly stock.”. Under the terms of the agreement, $60 will go to Alexion shareholders in cash for each Alexion share, with the rest paid in AstraZeneca shares. Antitrust concerns related to product overlaps between AstraZeneca and Alexion are limited, according to antitrust attorneys and Reorg’s analysis. In an August investor’s note, SVB Leerink analyst Geoffrey Porges labeled Alexion as a “rare M&A-ready large biopharma.” At that time, he listed Sanofi, Pfizer, Biogen and Novartis as possible suitors based on their existing interest in rare disease, ranking AZ and several other Big Pharmas at the bottom because of their low exposure in the field. A Backdoor Way To Profit From Today’s Crypto Bull Market Le groupe pharmaceutique britannique, parmi les premiers à proposer un vaccin contre le Covid-19, acquiert l’entreprise de biotechnologie américaine, spécialisée dans les maladies rares. RELATED: Alexion dodges Soliris biosimilar bullet—for now—with Amgen patent settlement. “This acquisition allows us to enhance our presence in immunology.”. The deal has obvious benefits for both sides. Alexion shareholders will receive $60 in cash plus 2.1243 AstraZeneca American depositary receipts for each share they own, according to a joint statement […] Alexion shareholders will have a 15% stake in the combined company after completion, with its stocks soaring by around a third in pre-market trading in the US. AstraZeneca is splashing out $39 billion to buy Alexion in a cash-and-stock deal, the British pharma revealed Saturday. Alexion shareholders are estimated to receive $175 per share: a value which represents a 45% premium over Alexion’s average monthly share-price. AstraZeneca snaps up Alexion for $39B in a leap toward CEO's $40B revenue goal, Alexion dodges Soliris biosimilar bullet—for now—with Amgen patent settlement. The acquisition is costly, even for AstraZeneca, with more than $25 billion in annual revenues. It also makes Soriot’s target of $40 billion in sales by 2023 more attainable. TWO BIRDS OF A FEATHER: ASTRAZENECA TO ACQUIRE FELLOW PRICE-GOUGER ALEXION IN MULTI-BILLION DOLLAR DEAL. AstraZeneca aims to diversify its portfolio by adding the cures of rare illnesses to its offerings. As part of the cost will be paid in AstraZeneca shares, Alexion investors will own about 15% of the combined enterprise when the deal closes, likely in the third quarter of 2021. The $ 39 billion deal includes $ 60 in cash for every $ 175 share of Alexion and 2,1243 AstraZeneca American Depository shares, a 40% premium on Alexion’s closing price of $ 120.48 on Friday. Even if you’re not actively in crypto, you deserve to know what’s actually going on... Freshfields and Wachtell steer AstraZeneca/Alexion. The Goodyear Tire & Rubber Company (NASDAQ: GT) has acquired rival Cooper Tire & Rubber Company (NYSE: CTB) for $2.8 billion. DBTNEWS® is a registered trademark. Alexion’s portfolio includes Soliris and Ultomiris, which target C5, a key piece of the immune system. “Alexion has established itself as a leader in complement biology, bringing life-changing benefits to patients with rare diseases,” AstraZeneca CEO Pascal Soriot said in a statement. © 2021 Questex LLC. AZ is grabbing a prize that doesn't obviously fit with its own portfolio, but one that's been a frequent guest on industry watchers' lists of top takeover targets given its established portfolio and expertise in rare diseases. The deal values Alexion at $175 per share, a 45% premium to the Boston biotech’s closing price on Friday. For AstraZeneca, sales of the vaccine could provide additional revenue in 2021. More importantly, these stocks are outpacing the returns these leading crypto assets aren already producing. Achillion's work revolves around oral inhibitors of Factor D — a regulatory protein found in the alternative complement pathway , which is part of the body's immune system. $39 billion splurge to acquire. Just when Gilead Sciences’ $21 billion acquisition of Immunomedics looked to be 2020’s biggest biopharma deal, AstraZeneca came up with an even larger one—and it involves one of the industry’s top takeover targets. AstraZeneca ’s $39 billion splurge to acquire Alexion Pharmaceuticals looks like a winner—as long as it can hang on at that price tag.. AstraZeneca [AZN] said it agreed to buy Boston-based Alexion Pharmaceuticals Inc. [ALXN] for $39 billion in cash and stock, a move that would bolster the British drug giant’s footprint in rare diseases. All rights reserved. In immunology, its approved products are crossovers from the respiratory field, though it just regained rights to an inflammatory bowel disease candidate, brazikumab. Allergan returned the anti-IL-23 antibody to win antitrust clearance for its $63 billion merger with AbbVie. Thus, along with high acquisition costs, the new asset greatly strengthens the long-term prospects of AstraZeneca. Atomera Incorporated (NASDAQ: ATOM) has announced the successful sale of one of its development projects. The buyout “immediately elevates AstraZeneca into the top tier of the category,” he said. In addition, Alexion’s pipeline includes 11 molecules targeting Factor D, FcRn and others. AstraZeneca is splashing out $39 billion to buy Alexion in a cash-and-stock deal, the British pharma revealed Saturday. But now, he argued, that the price is too low. The company is growing revenues at double-digit rates and is expecting further growth.... Armstrong Flooring Inc (AFI) stock got some oxygen when the company publicly announced to sell its production facility and real state property of theSouth... Levi Strauss & Co (NYSE: LEVI), one of the world's most famous denim brands, is recovering from the COVID-19 crisis. Click here to get the full story… along with our long list of backdoor Bitcoin strategies. As part of the cost will be paid in AstraZeneca shares, Alexion investors will own about 15% of the combined enterprise when the deal closes, likely in the third quarter of 2021. AstraZeneca shares fell sharply after it agreed to a $39bn (£29bn) takeover of the US rare diseases specialist Alexion, the biggest deal in its history if it goes ahead . It also sells products in cardiovascular, renal and metabolic diseases. (AstraZeneca). GCR provides breaking news, daily updates and in-depth monthly features covering antitrust and competition enforcement in countries around the world. The announced transaction was large as it was worth $39 billion and that also entails a substantial premium for shareholders of Alexion. That would rank right alongside the cancer drug Tagrisso as one of the company's bestselling products. Just when Gilead Sciences’ $21 billion acquisition of Immunomedics looked to be 2020’s biggest biopharma deal, AstraZeneca came up with an even larger one—and it involves one of the industry’s top takeover targets. . AstraZeneca has decided to buy Alexion in a deal of $39 billion, valuing Alexion at $175 per share on Saturday. AstraZeneca has just signed an agreement with Alexion, as the deal needs the approval of the antitrust regulators and will be completed by the third quarter of 2021 at the latest. exclude terms. Peloton Interactive (PTON) announced plans to enter the Asia Pacific region by launching in Australia. Save my name, email, and website in this browser for the next time I comment. Compared to price on the day before the purchase announcement, AstraZeneca’s bid offer was a 45 percent premium ($175 per ALXN share). It’s also the No. Drugmaker AstraZeneca agreed on Saturday to buy biopharma company Alexion for $39 billion in cash and stock. As a result of... 8x8, Inc.(EGHT), a provider of communication solutions for the enterprise, and Verint Systems Inc. (NASDAQ: VRNT), a provider of security and optimization solutions for... You have entered an incorrect email address! In addition to this, to improve Alexion’s innovations, AstraZeneca has many more experts and financial capital. Alexion shares closed at around $121 apiece on Friday. ATOM stock was last closed at $25.27. In case you missed it, Big Pharma giant AstraZeneca announced plans to acquire rare disease drug maker Alexion Pharmaceuticals in a $39 billion merger. In May, it paid $1.4 billion to Portola Pharmaceuticals for an underperforming anticoagulant reversal agent called Andexxa, though execs believe the drug will deliver over the long run. © DBT NEWS PVT. 3 Speen Street, Suite 300, Framingham, MA 01701.
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