astrazeneca alexion antitrust

Alexion Pharmaceuticals, Inc.ALXN entered into a definitive agreement with U.K.-based pharmaceutical company, AstraZeneca plc AZN, whereby the latter will acquire the … In the legal profession, information is the key to success. 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 … But while the deal seems unlikely to run afoul of antitrust regulators, AstraZeneca shareholders shouldn't count on that extra dividend boost just yet. TWO BIRDS OF A FEATHER: ASTRAZENECA TO ACQUIRE FELLOW PRICE-GOUGER ALEXION IN MULTI-BILLION DOLLAR DEAL. Law360 provides the intelligence you need to remain an expert and beat the competition. GCR provides breaking news, daily updates and in-depth monthly features covering antitrust and competition enforcement in countries around the world. Upon completion, Alexion shareholders will own approximately 15% of the combined company. In addition, Alexion’s pipeline includes 11 molecules targeting Factor D, FcRn and others. And the deal price announced on Saturday is fairly light on cash. Alexion Pharmaceuticals. AstraZeneca ’s. An unwanted buyout offer from Pfizer in 2014 … Life sciences. 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. AZN 0.71%. By using this site, you agree that we may store and access cookies on your device. For AstraZeneca, the acquisition is a major shift, catapulting the British pharma giant to the upper ranks of rare disease drugmaking. Alexion would add to AstraZeneca’s power in the US where AstraZeneca has been reinforcing its foothold recently, specifically in oncology. AstraZeneca (NASDAQ:AZN) has refiled its planned takeover of Alexion (NASDAQ:ALXN) with U.S. antitrust regulators, according to an 8-K fling. Competition/Antitrust & Foreign Investment Read AstraZeneca agrees to acquire Alexion Pharmaceuticals, Inc. for US$39B AstraZeneca agrees to acquire Alexion Pharmaceuticals, Inc. for US$39B AstraZeneca agrees to acquire Alexion Pharmaceuticals, Inc. for US$39B AstraZeneca agrees to acquire Alexion Pharmaceuticals, Inc. for US$39B AstraZeneca’s AZN 0.71% $39 billion splurge to acquire Alexion Pharmaceuticals ALXN 1.78% looks like a winner—as long as it can Alexion shares closed at around $121 apiece on Friday. Massachusetts-headquartered Alexion said in a U.S. Securities and Exchange Commission filing that after "informal discussions" with the FTC, AstraZeneca told the antitrust enforcer that it would perform what's called a pull-and-refile "on or about March 16, 2021." Alexion by Astrazeneca – fits into the megamerger bracket. In spite of everything, the drug trade has no scarcity of enormous corporations with long-term development challenges however fats wallets. PLEASE NOTE: A verification email will be sent to your address before you can access your trial. 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, advised by Freshfields, will buy Wachtell-guided Alexion for roughly $39 billion, the companies said Saturday, in a deal that represents the largest acquisition of … The FTC finally closed its investigation in December 2019 without requiring any asset sales; however, if there is going to be greater scrutiny of such transactions this could threaten the whole biopharma ecosystem and leave many execs wondering how to refresh ailing pipelines. 15 December 2020 . Subscribe and start reading now. However whereas the deal appears unlikely to run afoul of antitrust regulators, AstraZeneca shareholders shouldn’t depend on that additional dividend enhance simply but. AstraZeneca shares trade at a similar multiple to earnings as its European peers, yet the company offers “a leading growth profile,” Peter Welford of Jefferies wrote in a research note. REUTERS: AstraZeneca shares fell 9per cent on Monday, as investors moved to price in the British drugmaker's US$39 billion deal for U.S. biotech firm Alexion … A Backdoor Way To Profit From Today’s Crypto Bull Market ALXN 1.78%. AstraZeneca's $39 billion splurge to acquire Alexion Pharmaceuticals looks like a winner -- as long as it can hang on at that price tag. It also sells products in cardiovascular, renal and metabolic diseases. 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. It is slated to close in the third quarter of this year. Alexion could be attractive to other suitors, too. The deal will be undertaken through a US statutory merger. Freshfields and Wachtell steer AstraZeneca/Alexion. The biggest pending pharmaceutical deal is AstraZeneca PLC’s $39 billion acquisition of Boston-based Alexion Pharmaceuticals Inc., announced in December. Please see our Privacy Policy. 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 pops +31.2% in pre-market trading after AstraZeneca (NASDAQ:AZN) announced over the weekend, it was acquiring the rare-disease specialist in a deal worth $39B.AstraZeneca… After all, the drug industry has no shortage of large companies with long-term growth challenges but fat wallets. 15 December 2020 . In case you missed it, Big Pharma giant AstraZeneca announced plans to acquire rare disease drug maker Alexion Pharmaceuticals in a $39 billion merger. 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. Alexion could possibly be engaging to different suitors, too. Alexion could be attractive to other suitors, too. looks like a winner—as long as it can hang on at that price tag. AstraZeneca has decided to buy Alexion in a deal of $39 billion, valuing Alexion at $175 per share on Saturday. AstraZeneca, the maker of blockbuster cholesterol medication Crestor, notched nearly $25 billion in revenue in 2019, while Alexion… The assumption is surely that this will make it harder, not easier, to pull off a big takeover. Alexion filed with the U.S. Securities and Exchange Commission (SEC) on Monday stating it was going to withdraw and refile its notification and report form under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, “in order to give the FTC additional time to review the proposed transaction.” How do you feel about returning to the office in a post-pandemic world? A focus on megadeals would also put paid to a rumoured move by Astra on Gilead, although even before the antitrust clampdown such a deal seemed far-fetched (Astrazeneca wants Gilead; or does it?, June 8, 2020). Alexion, conversely, has a limited presence in emerging markets with almost no presence in China. 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. The funding will be based on a $ 17.4 billion bridge facility provided by Morgan Stanley, JP Morgan and Goldman Sachs. GCR also features guest commentary and articles from the world's leading competition law and antitrust practitioners. 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AZN 0.71%. AstraZeneca’s AZN 0.71% $39 billion splurge to acquire Alexion Pharmaceuticals ALXN 1.78% looks like a winner—as long as it can 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. AstraZeneca has agreed to buy rare-disease specialist Alexion Pharmaceuticals for $39 billion. Young Entrepreneurs Sending Gifts To Their Generous Supporters! Trending. Alexion Pharmaceuticals. 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. AstraZeneca’s AZN 0.71% $39 billion splurge to acquire Alexion Pharmaceuticals ALXN 1.78% looks like a winner—as long as it can hang on at that price tag. Allergan returned the anti-IL-23 antibody to win antitrust clearance for its $63 billion merger with AbbVie. 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. Evaluate Vantage has analysed biopharma acquisitions that are yet to close, and only one – the takeover of Alexion by Astrazeneca – fits into the megamerger bracket. The deal has obvious benefits for both sides. Alex Wilts. Alexion by Astrazeneca – fits into the megamerger bracket. The cash and stock agreement for $39 billion is a split between $60 in cash per $175 share of Alexion and 2.1243 AstraZeneca American depository shares. If the deal is a way out for Alexion, then for AstraZeneca it's a way to go even deeper into the market for specialty care drugs. AstraZeneca ’s. The deal would represent the biggest transaction in pharmaceuticals since 2019. Alexion would pay AstraZeneca a fee of up to $1.2 billion if it completes a deal with another buyer. GCR (Global Competition Review) is the world's leading antitrust and competition law journal and news service. This could therefore be in the danger zone. Now, AZ’s buying Alexion for its knowledge in immune-mediated diseases. Of the deals that are currently open, Astra/Alexion again looks like a possible target of the FTC's attention. Ms Slaughter noted that the FTC was already good at analysing product and pipeline overlaps – and now it wants to go further and look at “bigger-picture questions”. The FTC is currently reviewing AstraZeneca’s $39 billion buyout of Alexion. Now, AZ’s buying Alexion for its knowledge in immune-mediated diseases. AstraZeneca’s AZN 0.71% $39 billion splurge to acquire Alexion Pharmaceuticals ALXN 1.78% looks like a winner—as long as it can hang on at that price tag. AstraZeneca has long been a leader in treatments for respiratory disease, but sales have stagnated. Ironically, Alexion itself had grown through several acquisitions of smaller companies for their competing and clearly overlapping assets. ; The deal, which is expected to close sometime between July and September, would have AstraZeneca hand over $60 in cash and roughly 2.1 American Depositary Shares — each one-half the value of an … $39 billion splurge to acquire. AstraZeneca is splashing out $39 billion to buy Alexion in a cash-and-stock deal, the British pharma revealed Saturday. AstraZeneca snaps up Alexion for $39B in a leap toward CEO’s $40B revenue goal December 13, 2020. Allergan returned the anti-IL-23 antibody to win antitrust clearance for its $63 billion merger with AbbVie. AstraZeneca aims to diversify its portfolio by adding the cures of rare illnesses to its offerings. The S&P Pharmaceuticals Index dipped 1% yesterday, though interestingly Nasdaq Biotechnology was flat. Password (at least 8 characters required). Freshfields and Wachtell steer AstraZeneca/Alexion. 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. 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. Yesterday’s launch of an international regulatory push to scrutinise future – and possibly prior – pharmaceutical mergers will cause deal bankers to shift uneasily in their leather armchairs. AstraZeneca is paying a 45% premium to Alexion's Friday closing price. AstraZeneca boasts a strong position in cancer, led by lung cancer drug Tagrisso, PARP inhibitor Lynparza and PD-L1 agent Imfinzi. But the new review is surely a blow to anyone hoping that Gilead, whose shares are not far off five-year lows, might get bought. Mergers & Acquisitions After a deal announcement, our M&A team succinctly identifies the antitrust and regulatory risks facing the merging parties. 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. Already a subscriber? After all, the drug industry has no shortage of large companies with long-term growth challenges but fat wallets. 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. Massachusetts-headquartered Alexion said in a U.S. Securities and Exchange Commission filing that after "informal discussions" with the FTC, AstraZeneca told the antitrust enforcer that it would perform what's called a pull-and-refile "on or about March 16, 2021." AstraZeneca shares fall on "hefty" $39-billion Alexion deal And the deal price announced on Saturday is fairly light on cash. AstraZeneca also highlighted how Alexion's work in the complement system, which is part of the immune system, could have applications in a large variety of common diseases, from glaucoma to arthritis to mood disorders. This could therefore be in the danger zone. AstraZeneca’s AZN 0.71% $39 billion splurge to acquire Alexion Pharmaceuticals ALXN 1.78% looks like a winner—as long as it can hang on at that price tag. ), Create custom alerts for specific article and case topics and, I took a free trial but didn't get a verification email. Law360 (March 16, 2021, 6:48 PM EDT) -- AstraZeneca PLC is resetting the clock to give the Federal Trade Commission more time to review its roughly $39 billion bid for Alexion Pharmaceuticals Inc., the latter company disclosed Monday. $39 billion splurge to acquire. Alexion … AstraZeneca ’s $39 billion splurge to acquire Alexion Pharmaceuticals looks like a winner—as long as it can hang on at that price tag.. She also did not rule out the possibility of revisiting transactions that had already closed. Including the earnings boost that the company will get from buying Alexion Pharmaceuticals Inc., the stock is priced at a discount, he wrote. And the deal price announced on Saturday is fairly light on cash. Alexion could be attractive to other suitors, too. AstraZeneca A massive $39 billion acquisition by AstraZeneca of Boston-based Alexion Pharmaceuticals was announced Saturday morning, marking … The most obvious measure to look at here would be overlap between portfolios and pipelines of the acquirer and target. Alexion Pharmaceuticals. 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 agency said the impact of pharmaceutical mergers was not "just about the respective size of the two companies”, theoretically threatening any move that results in excessive drug pricing power. 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 […] The FTC, alongside other agencies worldwide, including the UK's Competition and Markets Authority, is looking to update the way it analyses the effect of pharmaceutical mergers, with a focus on putting a stop to “skyrocketing” drug prices and anticompetitive practices. But while the deal seems unlikely to run afoul of antitrust regulators, AstraZeneca shareholders shouldn't count on that extra dividend boost just yet. To the extent that such broad sector moves can be put down to one thing the markets seem to be assuming that big pharma will not be allowed to grow indefinitely, but that takeovers of small companies, essential to restock pharma pipelines, will not be threatened. 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. To read more Subscribe to Global Competition Review. AstraZeneca has a strong position in both of these areas meaning it could globalize Alexion’s portfolio more effectively and efficiently. After all, the drug industry has no shortage of large companies with long-term growth challenges but fat wallets. Print article Shutterstock/Ascannio AstraZeneca has tapped Freshfields Bruckhaus Deringer to guide its $39 billion acquisition of Alexion Pharmaceuticals, which is being advised by Wachtell Lipton Rosen & Katz. AstraZeneca is resetting the clock to give the Federal Trade Commission more time to review its roughly $39 billion bid for Alexion “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. Print article Shutterstock/Ascannio AstraZeneca has tapped Freshfields Bruckhaus Deringer to guide its $39 billion acquisition of Alexion Pharmaceuticals, which is being advised by Wachtell Lipton Rosen & Katz. The announced transaction was large as it was worth $39 billion and that also entails a substantial premium for shareholders of Alexion. However, given comments made during a US FTC press call yesterday, it is far from certain that this is indeed the case. Alexion shareholders will receive $60 in cash plus 2.1243 AstraZeneca American depositary receipts for each share they own, according to a joint statement […] Life sciences. Now, AZ’s buying Alexion for its knowledge in immune-mediated diseases. If this is really the case then theoretically no recent deals are safe, though companies can rest assured that any review with this kind of international scope will take a long time to reach firm conclusions. AstraZeneca (NASDAQ:AZN) has refiled its planned takeover of Alexion (NASDAQ:ALXN) with U.S. antitrust regulators, according to an 8-K fling. Evaluate Vantage has analysed biopharma acquisitions that are yet to close, and only one – the takeover of Alexion by Astrazeneca – fits into the megamerger bracket. But while the deal seems unlikely to run afoul of antitrust regulators, AstraZeneca (AZN) shareholders shouldn't count on that extra dividend boost just yet. To read more Subscribe to Global Competition Review. After all, the drug industry has no shortage of large companies with long-term growth challenges but fat wallets. Indeed, in yesterday's call the FTC’s acting chair, Rebecca Kelly Slaughter, called out several recent large deals including Bristol Myers Squibb’s purchase of Celgene and Abbvie’s takeover of Allergan. Allergan returned the anti-IL-23 antibody to win antitrust clearance for its $63 billion merger with AbbVie. This could therefore be in the danger zone. ALXN 1.78%. LinkedIn; Twitter ... brazikumab. 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 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. Dive Brief: In the biggest biopharma deal this year, AstraZeneca has agreed to acquire Alexion Pharmaceuticals, a Boston-based company specializing in rare disease drugs, for $39 billion. Freshfields is representing AstraZeneca in the $39 billion acquisition of Alexion Pharmaceuticals announced December 12. LinkedIn; Twitter ... brazikumab. … The deal would represent the biggest transaction in pharmaceuticals since 2019. Try our Advanced Search for more refined results. Please see our Privacy Policy. AstraZeneca has agreed to buy rare-disease specialist Alexion Pharmaceuticals for $39 billion. But while the deal seems unlikely to run afoul of antitrust regulators, AstraZeneca shareholders shouldn't count on that extra dividend boost just yet. “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. We use cookies on this website. Alexion could be attractive to other suitors, too. Alexion’s portfolio includes Soliris and Ultomiris, which target C5, a key piece of the immune system. AstraZeneca is resetting the clock to give the Federal Trade Commission more time to review its roughly $39 billion bid for Alexion Pull-and-refiles are a common procedure in mergers likely to draw antitrust scrutiny. Law360 may contact you in your professional capacity with information about our other products, services and events that we believe may be of interest.You’ll be able to update your communication preferences via the unsubscribe link provided within our communications.We take your privacy seriously. Law360 takes your privacy seriously. … Subscribe and start reading now. Click here to login, © 2021, Portfolio Media, Inc. About | Contact Us | Legal Jobs | Careers at Law360 | Advertise with Law360 | Terms | Privacy Policy | Cookie Settings | Help | Site Map, Enter your details below and select your area(s) of interest to stay ahead of the curve and receive Law360's daily newsletters, Email (NOTE: Free email domains not supported). Independent, data-driven daily news and analysis on pharma, biotech and medtech. As for small bolt-ons, Ms Slaughter discussed Roche’s $4.8bn acquisition of Spark, which was delayed over fears that the former might deprioritise Spark’s haemophilia A gene therapy for the benefit of its own haemophilia A drug Hemlibra. A focus on megadeals would also put paid to a rumoured move by Astra on Gilead, although even before the antitrust clampdown such a deal seemed far-fetched (Astrazeneca wants Gilead; or does it?, June 8, 2020). Massachusetts-headquartered Alexion said in a U.S. Securities and Exchange Commission filing that after "informal discussions" with the FTC, AstraZeneca told the antitrust enforcer that it … AstraZeneca said Alexion will give it a foothold in the lucrative field of rare-disease drugs and help fuel revenue and cash flow in the coming years. Astrazeneca has received significant attention this year for its effort in the fight against coronavirus. This could therefore be in the danger zone. A focus on megadeals would also put paid to a rumoured move by Astra on Gilead, although even before the antitrust clampdown such a deal seemed far-fetched (Astrazeneca wants Gilead; or does it?, June 8, 2020). Pull-and-refiles are a common procedure in mergers likely to draw antitrust scrutiny. While awaiting approval to roll out Covid-19 vaccine, the deal will make the British pharma major a big player in the AstraZeneca snaps up Alexion for $39B in a leap toward CEO’s $40B revenue goal December 13, 2020. All told, AstraZeneca expects the combined company to have 28 drug programs in late-stage development by next year, to sell 12 blockbuster products by 2023, and to … Alex Wilts. And the deal price announced on Saturday is fairly light on cash. looks like a winner—as long as it can hang on at that price tag. 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. Evaluate Vantage takes a look at the still-open deals that might come under threat from a new international clampdown. You have to know what’s happening with clients, competitors, practice areas, and industries. When Pascal Soriot came on as CEO in 2012, AstraZeneca was defined by the kind of everyday medications prescribed by primary care doctors, drugs like Crestor for high cholesterol and Nexium for stomach problems. 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 … In this regard, megamergers look like the obvious targets. The total represents a … Access to case data within articles (numbers, filings, courts, nature of suit, and more. The funding will be based on a $ 17.4 billion bridge facility provided … The FTC shares antitrust authority with the Justice Department, but pharmaceutical deals fall within its jurisdiction.