The UK’s Competition and Markets Authority (CMA) is to review AstraZeneca’s $39 billion buyout of US-based Alexion Pharmaceuticals.
The COVID-19 vaccine producer, AstraZeneca, agreed to buy Alexion in December in its largest ever deal to boost its work in rare disease and immunology drugs, and to diversify away from its fast-growing cancer business.
AstraZeneca’s shareholders approved the proposal at a general meeting earlier this month.
The CMA is inviting comments from any interested party on the deal to help its assessment, setting a deadline of 3 June for any submissions.
The United States has cleared the deal, as have other countries including Canada, Brazil, and Russia.
The CMA’s review is to ensure “whether the creation of that situation may be expected to result in a substantial lessening of competition within any market or markets in the United Kingdom for goods or services.”
A representative for AstraZeneca said: “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.”
Alexion’s best-selling drug Soliris is used against a range of rare immune-disorders including paroxysmal nocturnal hemoglobinuria (PNH), which causes anaemia and blood clots.
AstraZeneca hopes an improved version of the drug has even larger market potential. It expects to boost growth by introducing Alexion’s rare-disease medicines to China and other emerging markets.
Lilly Subbotin
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