U.S. Markets open in 6 hrs 26 mins

Drugmaker Alexion to buy biotech Achillion in $930 mln deal

Oct 16 (Reuters) - Alexion Pharmaceuticals Inc on Wednesday agreed to buy small biotech Achillion Pharmaceuticals Inc in a $930 million deal, to boost its pipeline of rare disease treatments.

Alexion's offer of $6.30 per share represents a premium of 72.6% to Achillion stock's close on Tuesday.

The deal is expected to close in the first half of 2020, the companies said. (Reporting by Tamara Mathias in Bengaluru; Editing by Sriraj Kalluvila)