AstraZeneca has secured its shareholders’ approval for its previously announced $39 billion acquisition of US biopharma company Alexion Pharmaceuticals.

The pharma giant expects the acquisition to be completed in the third quarter of this year with the transaction subject to approval from Alexion’s shareholders, certain regulatory approvals, and also other customary closing conditions.

Commenting on AstraZeneca acquisition of Alexion Pharmaceuticals, Pascal Soriot – CEO of AstraZeneca, said: “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.”

Alexion Pharmaceuticals is engaged in developing therapies for rare disorders.

As per the terms of the transaction signed in December 2020, Alexion Pharmaceuticals’ shareholders will get $60 in cash and 2.1243 American Depositary Shares (ADSs) of AstraZeneca for each of their shares in the former. The deal values each of the shares of Alexion Pharmaceuticals at $175.

  Alexion Pharmaceuticals, AstraZeneca, Pascal Soriot, Pharma acquisition news, United Kingdom