Alexion Shares Surge After $39 Billion AstraZeneca Takeover

Alexion Pharmaceuticals  (ALXN) – Get Report shares surged higher Monday after the rare disease specialist agreed to a $39 billion takeover by Britain’s AstraZeneca  (AZN) – Get Report.

AstraZeneca will pay around $175 per share for Alexion, through a combination of cash and shares, representing a near 45% premium to the group’s Friday closing price and valuing the Boston-based group at $39 billion, or around 4 times Alexion’s 2025 revenue target of $9.5 billion. 

“Alexion’s expertise in complement-driven diseases was a main driver for the acquisition as AstraZeneca (AZ) seeks to expand its presence in immunology,” said BMO Capital Markets analyst Matthwe Luchini. “While Alexion mainly targets rare/ultra- rare disease, management believes there is potential for the combined R&D capabilities to expand Alexion’s portfolio into more common diseases and also enhance Alexion’s presence in rare disease via AstraZeneca’s expertise in oligonucleotides and genomics/genetics.”  

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