AstraZeneca buying drug developer Alexion for $39 billion

FILE – in this Jan. 29, 2009 file image, reflections are considered on a sign backyard the international headquarters of AstraZeneca in London. Cambridge, England-based pharmaceutical business AstraZeneca, which is involved in development of a COVID-19 vaccine, said Saturday Dec, 12, 2020, it is acquiring Boston-based drug developer Alexion pharmaceuticals Inc. in a deal value greenbacks 39 billion. (AP photograph/Kirsty Wigglesworth, File)

LONDON (AP/WTNH) — Pharmaceutical company AstraZeneca says it’s buying U.S. drug developer Alexion in a deal value $39 billion.

Cambridge, England-based mostly AstraZeneca PLC, which is involved in one of the efforts to develop a COVID-19 vaccine, referred to Saturday it’s the usage of a combination of cash and shares for the acquisition of Boston-based mostly Alexion prescription drugs Inc.

The boards of both groups unanimously approved the transaction, which still needs regulatory and shareholder approval. The deal is anticipated to shut in the third quarter of 2021.

“This acquisition makes it possible for us to boost our presence in immunology,” AstraZeneca CEO Pascal Soriot spoke of in a statement.

AstraZeneca and Oxford university have jointly developed a coronavirus vaccine that British and Canadian regulators are assessing, alongside a rival effort by U.S. drugmaker Pfizer and Germany’s BioNTech that has already earned some emergency approvals, and one other by way of U.S. biotechnology company Moderna.

New Haven Mayor Justin Elicker released an announcement following the announcement Saturday asserting,

nowadays’s announcement is another indication of the best of research and the talent within the biosciences right right here in New Haven. These two businesses each share an innate commitment to innovation, bringing collectively Alexion’s talents in complement research and rare diseases with AstraZeneca’s energy in immunology. extra importantly, each businesses share a passion for making improvements to fitness results for patients around the globe. I seem to be ahead to working with AztraZeneca, helping the analysis and construction team right here in New Haven, and growing into a massive hub along Northeast corridor in the field of prescription drugs, biology and drugs.