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LONDON, UK / ACCESSWIRE / April 13, 2018 / Active-Investors.com has just released a free research report on Alexion Pharma, Inc. (NASDAQ: ALXN) (''Alexion''). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=ALXN as the Company's latest news hit the wire. On April 11, 2018, the Company announced that its wholly-owned subsidiary, Alexion Pharma Nordics Holding AB, has inked a deal to acquire Sweden-based biopharmaceutical organization, Wilson Therapeutics, for approximately 7.1 billion Swedish crowns (SEK) (or, $855 million) in cash. Register today and get access to over 1000 Free Research Reports by joining our site below:
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Details of the Agreement
- Alexion has offered SEK 232 in cash for each outstanding share of Wilson Therapeutics, representing a premium of 70% compared to the closing share price on April 10, 2018.
- The transaction was unanimously approved by Alexion's Board of Directors. Alexion has obtained support agreements for the takeover from investors holding a total of 73.4% of Wilson Therapeutics' outstanding shares.
- The acquisition is subject to customary conditions, receipt of all necessary regulatory, governmental, or similar clearances, including approvals from competition authorities. Alexion expects to obtain such approvals prior to the end of the acceptance period.
- The transaction is expected to close in Q2 2018.
- Lazard is serving as financial adviser to Wilson Therapeutics, while Alexion is being advised by BofA Merrill Lynch, Deutsche Bank, and DNB Markets.
Acquisition of Wilson Therapeutics is the First Step in Rebuilding Alexion's Clinical Pipeline
Commenting on the acquisition, Ludwig Hantson, Chief Executive Officer (CEO) of Alexion, mentioned that WTX101 is an innovative product that addresses the underlying cause of the Wilson Disease and has the potential to define a new standard of care in treating the disease, an area that has not had a new treatment in over two decades. Hantson added that the acquisition of Wilson Therapeutics is a strong strategic fit for Alexion, given the overlap with its current clinical and commercial focus on metabolic and neurologic disorders, and is an important first step in rebuilding the Company's clinical pipeline.
Deal Followed Novartis' Announcement to Acquire AveXis
On April 09, 2018, Switzerland-based Novartis struck an agreement to acquire US-based Nasdaq-listed clinical stage gene therapy Company, AveXis, Inc., for approximately $8.7 billion in cash. The deal is expected to be completed in mid-2018. Novartis is counting on AveXis' main SMA drug, AVXS-101, as well as its gene therapy expertise and manufacturing capabilities to bolster the Company's neuroscience business, one of its main focus areas.
WTX101 is a first-in-class oral copper-binding agent with a unique mechanism of action and ability to access and bind copper from serum and promote its removal from the liver. A Phase-2 study evaluating the efficacy and safety of WTX101 in Wilson Disease patients was successfully completed in 2016. WTX101 has received a Fast Track Designation in the US and an Orphan Drug Designation for the treatment of the Wilson Disease in the US and the EU.
About Wilson Disease
The Wilson Disease is a rare autosomal recessive inherited disorder of copper metabolism that is characterized by an excessive deposition of copper in the liver, brain, and other tissues. The Wilson Disease is often fatal if not recognized and treated when symptomatic. The average age of diagnosis is 15-20 years, with the majority of patients presenting between the ages of 10 and 30.
About Wilson Therapeutics
Wilson Therapeutics is a biopharmaceutical Company that develops novel therapies for patients with rare diseases. The Company's lead product, WTX101, is in development as a novel treatment for the Wilson Disease. The Company was established in 2012 and is based in Stockholm, Sweden.
About Alexion Pharmaceuticals, Inc.
Founded in 1992 and headquartered in New Haven, Connecticut, Alexion is a global biopharmaceutical Company focused on developing and delivering life-transforming therapies for patients with devastating and rare diseases.
Stock Performance Snapshot
April 12, 2018 - At Thursday's closing bell, Alexion Pharma's stock slightly rose 0.45%, ending the trading session at $111.29.
Volume traded for the day: 1.32 million shares.
After yesterday's close, Alexion Pharma's market cap was at $24.76 billion.
Price to Earnings (P/E) ratio was at 51.21.
The stock is part of the Healthcare sector, categorized under the Biotechnology industry. This sector was up 0.8% at the end of the session.
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