(Alliance News) - AstraZeneca PLC on Tuesday said a requisite majority of its shareholders have approved the proposal to acquire Massachusetts, US-based drug developer Alexion Pharmaceuticals Inc.
Astra said it continues to expect the acquisition to close in the third quarter of 2021, subject to approval by Alexion shareholders, some regulatory approvals, and other closing conditions.
"The approval of the acquisition by AstraZeneca shareholders represents a significant step toward combining Alexion's leadership in complement biology and rare diseases with AstraZeneca's expertise in precision medicine and growing presence in immunology. We look forward to together advancing life-changing science and bringing even more medicines to patients globally," said Astra Chief Executive Pascal Soriot.
The Cambridge-based pharmaceutical and biotechnology company agreed to a deal for Alexion in December for USD39 billion to boost its work on immunology. The takeover has already been given the go-ahead by the US Federal Trade Commission in mid-April after competition clearances in Canada, Brazil and Russia, but Astra is still waiting on approval in the UK, EU and Japan.
FTSE 100-listed Astra shares were trading 1.8% lower in London on Tuesday afternoon at 7,579.00 pence each, while Alexion shares were down 0.5% in the pre-market open in New York. Alexion stock closed flat on Monday at USD171.81 a share.
By Evelina Grecenko; evelinagrecenko@alliancenews.com
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