AstraZeneca has secured the European Commission (EC) approval for its proposed acquisition of Alexion Pharmaceuticals in a $39bn deal.
The EC approval follows competition clearances in the US, Japan and other countries, pending regulatory approval in the UK, which mandatory to close the deal.
In May this year, the UK’s Competition and Markets Authority (CMA) has launched an anti-competition investigation into AstraZeneca’s proposed acquisition of Alexion.
The UK watchdog has launched its inquiry into the merger by notice to the parties and is inviting public comments to decide by 21 July 2021.
AstraZeneca executive director and chief financial officer Marc Dunoyer said: “We are pleased to have secured clearance from the European Commission for the proposed acquisition of Alexion, a pioneer in the discovery and development of medicines for rare diseases.
“We are now another step closer to closing the acquisition and combining the two companies to create a leader in immunology and precision medicines. We continue to progress towards the completion of the acquisition during this quarter.”
In December last year, AstraZeneca initially signed an agreement to acquire the US-based Alexion for a total consideration of $39bn.
With the acquisition, the UK drugmaker will benefit from Alexion’s advanced complement-technology platform and an extensive pipeline.
Also, the transaction is expected to enhance AstraZeneca’s presence in rare diseases and immunology, beyond its focus in oncology, cardiovascular and metabolic diseases.
After closing, the company is planning to create a group focusing on rare diseases, dubbed ‘Alexion, AstraZeneca Rare Disease’, which will be based in Boston, US.
