Alexion To Acquire Achillion Pharma For $930M

Alexion Pharma ALXN will buy Achillion Pharma ACHN for the initial value of $930 million, or $6.30 per share in cash plus added contingent considerations for total potential value of $8.30 per share.

Alexion will also be acquiring the cash currently on Achillion's balance sheet and as of Sept. 30, this was approximately $230 million.

The Daily Biotech Pulse: Akebia Sues CMS, Roche Raises Guidance Yet Again, Titan Medical Entangled In Credit Crunch

"Alexion has demonstrated the transformative impact that inhibiting C5 can have on multiple rare and devastating diseases. However, we believe this is just the beginning of what's possible with complement inhibition," said Ludwig Hantson, CEO of Alexion.

Achillion Pharma shares were trading higher by 85% at $6.75 in Wednesday’s pre-market session.

Posted In: BiotechM&ANewsTop StoriesGeneral
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...