LONDON (AP) — Pharmaceutical firm AstraZeneca says it’s shopping for U.S. drug developer Alexion in a deal price $39 billion.
Cambridge, England-based AstraZeneca PLC, which is concerned in one of many efforts to develop a COVID-19 vaccine, stated Saturday it is utilizing a mixture of money and shares for the acquisition of Boston-based Alexion Prescription drugs Inc.
The boards of each firms unanimously accepted the transaction, which nonetheless wants regulatory and shareholder approval. The deal is predicted to shut within the third quarter of 2021.
“This acquisition permits us to reinforce our presence in immunology,” AstraZeneca CEO Pascal Soriot stated in a press release.
AstraZeneca and Oxford College have collectively 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 U.S. biotechnology firm Moderna.
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