Last checked at 
* UK's CMA assessing if deal could hurt market competition
* CMA sets June 3 deadline for comments, sees decision by
July 21
* AstraZeneca shares marginally lower, agreed deal in
December
(Adds details from CMA, share move)
By Pushkala Aripaka
May 25 (Reuters) - Britain's competition regulator is
reviewing AstraZeneca's planned $39 billion takeover of
U.S.-based Alexion on whether it could reduce
competition in Britain or other markets.
The UK's Competition and Markets Authority (CMA) said on
Tuesday it was inviting comments from any interested party on
the deal to help its assessment, a routine carried out for major
deals, and set a deadline of June 3 for any submissions.
Anglo-Swedish drugmaker AstraZeneca agreed to buy Alexion in
December in its largest ever deal in a bet on rare-disease
immunology and to boost its business, which includes a
fast-growing cancer medicines unit and a major COVID-19 vaccine.
AstraZeneca's European peers Roche and Novartis
also have a portfolio of drugs for rare diseases and
immunology products.
The CMA review is part of an initial analysis the regulator
refers to as "phase 1", and is likely to be wrapped up by July
21, it said, adding the CMA expects to post its decision
afterwards if the deal has been cleared or referred to a deeper,
"phase 2" probe.
"The commencement of the UK CMA's formal review is another
important step towards closing of the proposed acquisition,
which we continue to expect will be in the third quarter of
2021," a representative for AstraZeneca said.
Shareholders of the Cambridge, UK-based company cleared the
proposed deal at a general meeting earlier this month where
99.89% of votes cast were in favour of approving it.
The United States in April approved the deal, as have other
countries including Canada, Brazil and Russia. Regulatory
clearances from regions such as Japan and the European Union are
pending.
AstraZeneca, whose stock was 0.3% lower at 8,127 pence by
1112 GMT, is hoping an improved version of Alexion's
best-selling drug and other rare-disease medicines will help
build a deeper hold in China and other emerging markets.
Boston, Massachusetts-based Alexion was not available for
comment outside of business hours.
(Reporting by Pushkala Aripaka and Vishwadha Chander in
Bengaluru; Editing by Devika Syamnath, Kirsten Donovan and David
Evans)
