Watchdog clears Astra Zeneca’s $39bn  deal

Competition authorities in the UK gave green light in Astra Zeneca’s $39bn takeover deal of US giant Alexion Pharmaceuticals delivering the British pharma a lucrative portfolio of immunology and a towering presence in rare diseases.

Astra Zeneca on Wednesday announced the completion of its Alexion acquisition, a week after securing a pivotal nod from UK’s competition and Market Authority (CMA).

The now-completed buy-out stands as a key steeping stone for AstraZeneca as it targets an ambitious sales goal of 440bn in just four years, up from $26bn it made in 2020.

With the deal comes an immediate $6bn bump to AstraZeneca’s top line as the drugmaker secures two of Alexion’s blockbuster C5 inhibitor franchises, Soliris and Ultomiris.

 

Ultomiris, the follow up to Alexion’s paroxysmal nocturnal hemoglobinuria (PNH)  drug Soliris, has already cashed in $701million in sales at 2021’s mid point. Alexion said a 48 per cent increase over the same period in 2020. Soliris held its own and posted first-half sales of $2.10bn, a 5 per cent increase.

AstraZeneca can now create a new group focused on rare diseases headquartered in Boston..

AstraZeneca’s CFO Marc Dunoyer will step into the rare disease unit’s top job while retiring from the drugmaker’s board. Alexion’s current finance executive Aradhana Sarin will step into  Dunoyer’s spot.

Dr Aradhana Sarin will relocate from US to UK after being appointed Executive Director and Chief Financial Officer, of AstraZeneca  and will report to CEO Pascal Soriot. Dr Sarin,  a trained medical doctor from India, was managing director, Healthcare Corporate & investment Banking , Citi Global Banking in New York, where she advised clients in the life sciences and biopharmaceutical sectors, and previously Managing Director, Healthcare Investment Banking, UBS, in New York and San Francisco and worked at JP Morgan in New York in the M&A Advisory and Healthcare Groups.