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AstraZeneca to buy Alexion for $39 billion to expand in immunology

BUSINESS
By Reuters | December 14th 2020
Brazilian pediatric doctor Monica Levi, one of the volunteers who received the COVID-19 vaccine in Sao Paulo, Brazil. [AFP]

Britain’s AstraZeneca has agreed to buy US drugmaker Alexion Pharmaceuticals for Sh40 billion ($39 billion) in its largest ever deal, diversifying from its cancer business in a bet on rare-disease and immunology drugs.

The deal comes in a week that AstraZeneca said it was conducting further research to confirm whether its Covid-19 vaccine could be 90 per cent effective as a rival shot from Pfizer was launched in Britain and approved for use in the US.

 

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