The board of directors of both AstraZeneca Pharmaceutical Company and Alexion Pharmaceuticals Inc. agreed to approve this deal, but still need the approval of the regulators and shareholders.
Pharmaceutical company AstraZeneca (UK) on 12/12 said, the company is buying drug development company Alexion Pharmaceuticals Inc. (US) in a deal worth $ 39 billion.
AstraZeneca PLC, based in Cambridge (UK), involved in one of the efforts to develop COVID-19 acute respiratory infections vaccine, says the company uses a combination of cash and stock to acquire Alexion Pharmaceuticals Inc., based in Boston (USA).
The boards of directors of both companies have unanimously approved the deal, but still need approval from regulators and shareholders. This deal is expected to end in the third quarter of 2021.
AstraZeneca’s CEO, Pascal Soriot said the deal allowed the company to increase its presence in the immunology field.
AstraZeneca and Oxford University have jointly developed a COVID-19 vaccine that UK and Canadian regulators are evaluating for effectiveness.
Meanwhile, pharmaceutical manufacturers Pfizer (USA) and BioNTech (Germany) ‘s efforts to make COVID-19 vaccines have received urgent approval from several countries, while American biotechnology company Moderna is also working on development of a COVID-19 vaccine.