Welcome to Regulatory Reconnaissance, your daily regulatory news and intelligence briefing. Except as explicitly stated in this announcement, none of the contents of AstraZeneca's or Alexion's websites, nor any website accessible by hyperlinks on AstraZeneca's or Alexion's websites, is incorporated in or forms part of, this announcement. This press release and further information about Alexion can be found at www.alexion.com. ", Ludwig Hantson, Ph.D., Chief Executive Officer, Alexion, said: "For nearly 30 years Alexion has worked to develop and deliver transformative medicines to patients around the world with rare and devastating diseases. LONDON (AP) — Pharmaceutical company AstraZeneca says it is buying U.S. drug developer Alexion in a deal worth $39 billion. Based on AstraZeneca's reference average ADR price of $54.14, this implies total consideration to Alexion shareholders of $39bn or $175 per share. During 2019, Alexion generated a total revenue of $5bn and profit before tax of $2.2bn. In connection with such matters, Morgan Stanley and J.P. Morgan Cazenove, each of their respective affiliates and their respective directors, officers, employees and agents will not regard any other person as a client, nor will they be responsible to any other person for providing the protections afforded to their respective clients or for providing advice in connection with the contents of this announcement or any other matter referred to herein. Alexion also has two highly innovative enzyme replacement therapies for patients with life-threatening and ultra-rare metabolic disorders, hypophosphatasia and lysosomal acid lipase deficiency as well as the first and only approved Factor Xa inhibitor reversal agent. (Reuters) -AstraZeneca shares fell as much as 9% on Monday, as investors moved to price in the costs of a $39 billion deal for U.S. biotech company Alexion Pharmaceuticals that would be the British drugmaker’s biggest ever corporate acquisition. [1] A rare disease is a disease impacting less than 200,000 patients (as defined in the US Orphan Drug Act 1983). AstraZeneca AZN, +0.72% AZN, +3.48% was upgraded to buy from hold at Jefferies, and its price target lifted to 8850 pence ($61.05 per U.S.-listed share) from 8250 pence. NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION. Alexion Pharmaceuticals Inc. is an American pharmaceutical company best known for its development of Soliris, a drug used to treat the rare disorders atypical hemolytic uremic syndrome (aHUS) and paroxysmal nocturnal hemoglobinuria (PNH). The combined company is expected to maintain a strong, investment-grade credit rating, and the acquisition supports AstraZeneca's progressive dividend policy. To the fullest extent permitted by applicable law, Goldman Sachs International, Goldman Sachs Bank USA and each of their respective affiliates accordingly disclaim all and any responsibility or liability whether arising in tort, contract or otherwise (save as referred to above) which they might otherwise have in respect of this announcement or any statement contained therein. Evercore, Centerview Partners and Ondra, each of which is authorised and regulated by the Financial Conduct Authority in the United Kingdom, are each acting exclusively for AstraZeneca and no one else in connection with the transaction and the matters referred to in this document and will not regard any other person as a client in relation to the matters set out in this document and will not be responsible to anyone other than AstraZeneca for providing the protections afforded to their respective clients, nor for providing advice in relation to the transaction or any other matter referred to in this document. Evercore Partners International LLP ("Evercore"), and Centerview Partners UK LLP ("Centerview Partners") are acting as lead financial advisers. In connection with the proposed transaction, AstraZeneca PLC (“AstraZeneca”) intends to file with the SEC a registration statement on Form F-4 that will include a proxy statement of Alexion and that also constitutes a prospectus of AstraZeneca. The initial bridge financing facility is intended to cover the financing of the cash portion of the acquisition consideration and associated acquisition costs and to refinance the existing term loan and revolving credit facilities of Alexion. Evercore is acting as sponsor in relation to the transaction described in this announcement. AstraZeneca expects to generate significant value from the acquisition by extending Alexion's commercial reach through leveraging AstraZeneca's global presence and accelerating the development of Alexion's pipeline. Persons into whose possession this announcement or other information referred to herein should inform themselves about, and observe, any restrictions in such laws or regulations. The Company is focused on the development and commercialization of therapeutic products. Neither Evercore, Centerview Partners nor Ondra, nor any of their respective subsidiaries, holding companies, branches or affiliates owes or accepts any duty, liability or responsibility whatsoever (whether direct or indirect, whether in contract, in tort, under statute or otherwise) to any person who is not a client in connection with the transaction or any statement contained herein or otherwise. If they elect, Alexion shareholders may receive their allocation of AstraZeneca ADSs in the form of a corresponding number of ordinary shares of AstraZeneca in addition to the cash consideration. Search FT.com for AstraZeneca PLC Show more articles AstraZeneca and the fight against virus variants Feb 11 2021 Long Covid: Why GSK may have played a better vaccine game than AstraZeneca … RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. The capabilities of both organisations will create a company with great strengths across a range of technology platforms, with the ability to bring innovative medicines to millions of people worldwide. Terms and conditions relating to the use and distribution of this information may apply. A circular is expected to be published by AstraZeneca in connection with the proposed acquisition in due course. Each of Alexion and AstraZeneca may also file other relevant documents with the U.S. Securities and Exchange Commission (“SEC”) regarding the proposed … Freshfields Bruckhaus Deringer is acting as legal counsel. These forward-looking statements include all matters that are not historical facts and involve predictions. AstraZeneca to acquire Alexion, accelerating the, Company's strategic and financial development, Greater scientific presence in immunology by adding Alexion's, innovative complement-technology platforms and strong pipeline, Dedicated rare disease unit to be headquartered in Boston, Geographical presence to be enhanced with broad coverage, across primary, speciality and highly specialised care, Double-digit revenue growth through 2025; acquisition strengthens AstraZeneca's, broad-based revenue and the company will further globalise Alexion's portfolio, Enhanced operating margin and cash flow to enable rapid, debt reduction with an ambition to increase the dividend, The acquisition will be immediately core earnings-accretive and, value-enhancing, and is aligned with stated capital-allocation priorities. Alexion achieved impressive revenue growth over the last few years, with revenues of $5.0bn in 2019 (21% year-on-year growth). We look forward to welcoming our new colleagues at Alexion so that we can together build on our combined expertise in immunology and precision medicines to drive innovation that delivers life-changing medicines for more patients. AstraZeneca is a global, science-led biopharmaceutical business and our innovative medicines are used by millions of patients worldwide. Please visit astrazeneca.com and follow the Company on Twitter @AstraZeneca. This announcement may include statements that are or may be deemed to be forward-looking statements. By Pushkala Aripaka (Reuters) -AstraZeneca shares fell as much as 9% on Monday, as investors moved to price in the costs of a $39 billion deal for U.S. biotech company Alexion Pharmaceuticals that would be the British drugmaker’s biggest ever corporate acquisition. The boards of directors of both companies have unanimously approved the acquisition. Unless otherwise stated: financial information relating to AstraZeneca has been extracted or derived from the audited results for the twelve months ended 12 December 2019; and financial information relating to Alexion has been extracted or derived from the audited results for the twelve months ended 31 December 2019, and the unaudited results for the nine months ended 30 September 2020. More recently, AstraZeneca has increased its efforts in immunology research and the development of medicines for immune-mediated diseases. AstraZeneca and Alexion Pharmaceuticals, Inc. (Alexion) have entered into a definitive agreement for AstraZeneca to acquire Alexion. AstraZeneca’s $39bn Alexion deal marks ... - Financial Times Morgan Stanley and Goldman Sachs International are joint corporate brokers. AstraZeneca has agreed to buy rare-disease specialist Alexion Pharmaceuticals for $39 billion. Anglo-Swedish drugmaker AstraZeneca has agreed to buy US biotechnology group Alexion in a $39bn deal, marking the biggest agreement struck by a pharmaceutical company since the start of the Covid-19 pandemic. The success of the franchise is demonstrated by the effective transition of over 70% of PNH patients from Soliris to Ultomiris in less than two years of launch in its key markets, including the US, Japan and Germany, as well as the strong pipeline of additional indications for Ultomiris. Alexion Highlights Commercial, Clinical and Financial Progress at the 39th Annual J.P. Morgan Healthcare Conference Jan 12 2021; Alexion to Present at the 39th Annual J.P. Morgan Healthcare Conference Jan 05 2021; AstraZeneca to Acquire Alexion, Accelerating the Company's Strategic and Financial Development Dec 12 2020; Alexion Receives Marketing Authorization from European … Students at all levels can bring new ideas, fresh perspectives, and a passion for excellence to Alexion. The acquisition is a Class 1 transaction for AstraZeneca and as such, will require the approval of its shareholders to comply with the UK Listing Rules. If the deal goes via, one clear winner shall be Alexion chief government Ludwig Hantson, who earned $18.9m in 2019 and stands to make $56m from a golden parachute clause if he leaves following the deal’s completion, in accordance with FT calculations utilizing knowledge from the corporate’s most up-to-date proxy submitting. Enhanced revenue growth, operating margin and cash-flow generation. Members of Alexion's current senior management team will lead the future rare-disease activities. The combined companies will bring together two rapidly converging, patient-centric models of care delivery with combined strengths in immunology, biologics, genomics and oligonucleotides to drive future medicine innovation. AstraZeneca, with Alexion's R&D team, will work to build on Alexion's pipeline of 11 molecules across more than 20 clinical-development programmes across the spectrum of indications, in rare diseases and beyond. Alexion Pharmaceuticals, Inc. is a biopharmaceutical company. Industry-leading revenue growth; enhanced geographical presence and broad coverage across primary, specialised and highly specialised care. Alexion is a global biopharmaceutical company focused on developing life-changing therapies for people living with rare disorders. Alexion shareholders will receive $60 in cash and 2.1243 AstraZeneca American Depositary Shares (ADSs) (each ADS representing one-half of one (1/2) ordinary share of AstraZeneca, as evidenced by American Depositary Receipts (ADRs)) for each Alexion share. Alexion focuses its research efforts on novel molecules and targets in the complement cascade and its development efforts on haematology, nephrology, neurology, metabolic disorders, cardiology, ophthalmology and acute care. Alexion's immunology expertise extends to other targets in the complement cascade beyond C5 as well as additional modalities, with its deep pipeline including Factor D small-molecule inhibitors of the alternative pathway of the complement system, an antibody blocking neonatal Fc receptor (FcRn)-mediated recycling, and a bi-specific mini-body targeting C5, among others. In contrast, AstraZeneca's capabilities in genomics, precision medicine and oligonucleotides can be leveraged to develop medicines targeting less-frequent diseases. Alexion's franchise includes Soliris (eculizumab), a first-in-class anti-complement component 5 (C5) monoclonal antibody.
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