11.1 C
London
Sunday, October 5, 2025

AstraZeneca buying drug developer in £30bn deal

Must read

Pharmaceutical giant AstraZeneca is to buy US drug developer Alexion in a deal worth almost £30 billion.

Cambridge-based AstraZeneca, which is developing a Covid-19 vaccine, said on Saturday it is using a combination of cash and shares for the acquisition of Boston-based Alexion Pharmaceuticals.

The boards of both companies have unanimously approved the transaction, but it still needs regulatory and shareholder approval.

The deal is expected to close in the third quarter of 2021.

AstraZeneca chief executive Pascal Soriot said: “This acquisition allows us to enhance our presence in immunology.”

The company and Oxford University have jointly developed a coronavirus vaccine that British and Canadian regulators are assessing.


Discover more from London Glossy Post

Subscribe to get the latest posts sent to your email.

- Advertisement -

More articles

- Advertisement -

Latest article