AstraZeneca buys Alexion in its first major pharmaceutical deal since the start of 2020

The pharmaceutical company "AstraZenka" announced that it had agreed to acquire the American drug development company Alexion in a deal worth 39 billion dollars.The company, which is based in Cambridge, England, which is partnering with the University of  Oxford in efforts to develop the Covid-19 vaccine, said on Saturday that it is using a combination of cash and shares to acquire the "Alexion Pharmaceuticals Inc." company. Based in Boston.    Both companies' boards of directors have already approved the deal, which still needs regulatory approval and shareholder approval. The deal is expected to close in the third quarter of 2021. "This acquisition allows us to strengthen our presence in immunology," said Pascal Soriot, CEO of AstraZeneca, in a statement.
AstraZeneca and the University of Oxford have jointly developed a coronavirus vaccine that British and Canadian regulators have evaluated along with competing efforts by the American pharmaceutical company Pfizer and the German "BioNTech" company that has already received approval from the US Food and Drug Administration recently and unremitting efforts by the US biotechnology company. Moderna too.
“When you conclude that this combination will be good and will work well, you do so when the opportunity arises,” said Soriot when asked about the relationship between the coronavirus pandemic and the deal. AstraZeneca became a partner with the University of Oxford to develop a vaccine for the Coronavirus early this year. AstraZeneca has promised to sell the Corona vaccine at cost and without any profit to developing countries, and it is known that the AstraZenka company focuses on research and development in areas other than developing vaccines such as oncology.

The data reviewed by accredited agencies and released this month showed a combined average efficacy of 70 percent or less of vaccines manufactured by competitors. Observers have questioned the data, although any vaccine with more than 50 percent effectiveness is still slated for approval by European and American regulators.
   


Sources:
abc NEWS
FINANCIAL TIMES
The New York Times