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LONDON, UK / ACCESSWIRE / May 30, 2018 / If you want access to our free research report on Alexion Pharmaceuticals, Inc. (NASDAQ: ALXN) ("Alexion"), 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 May 25, 2018, the Company announced that its offer, through a wholly owned subsidiary, for the shares in Sweden-based Wilson Therapeutics has been accepted by shareholders, representing 97.7% of the total number of shares and votes in Wilson Therapeutics. Register today and get access to over 1,000 Free Research Reports by joining our site below:
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Alexion Extended Acceptance Period until June 08, 2018
The acquisition has been approved by relevant regulatory authorities. The offer has been declared unconditional and settlement of the tendered shares will occur on May 30, 2018. In order to give Wilson Therapeutics' shareholders additional time to accept the offer, Alexion has extended the acceptance period until June 08, 2018. Settlement for shares tendered during this extended acceptance period is expected on June 15, 2018.
Alexion plans to initiate compulsory redemption proceedings regarding the remaining shares in Wilson Therapeutics as well as to promote a delisting of the shares from Nasdaq Stockholm.
Acquisition of Wilson Therapeutics - Key First Step in Rebuilding Alexion's Pipeline
Commenting on the announcement, Ludwig Hantson, Ph.D., Chief Executive Officer of Alexion, stated that the acquisition of Wilson Therapeutics is a key first step in rebuilding the Company's pipeline.
Ludwig added that Alexion looks forward to using its significant experience in rare metabolic and neurological diseases to improve treatment for patients with Wilson disease through the development of WTX101, which has the potential to be the first new treatment in more than 20 years and become the new standard of care for Wilson disease.
Alexion Initiated the Offer in April 2018
On April 11, 2018, Alexion made a recommended public cash offer to the shareholders in Wilson Therapeutics to acquire all outstanding shares by way of a tender offer, through a wholly-owned subsidiary. Alexion offered SEK 232 in cash for each outstanding share of Wilson Therapeutics. The total equity value of the transaction amounted to SEK 7,100 million (approximately $855 million). Alexion obtained support agreements for the takeover from investors holding a total of 73.4% of Wilson Therapeutics' outstanding shares. The acquisition required approval of relevant regulatory authorities. Alexion will finance the acquisition through cash on hand.
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, and Phase-3 is in development. WTX101 has received Fast Track designation in the US and Orphan Drug Designation for the treatment of Wilson disease in the US and the EU.
About Wilson Disease
Wilson disease is a rare autosomal recessive inherited disorder of copper metabolism that is characterized by excessive deposition of copper in the liver, brain, and other tissues. 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 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
May 29, 2018 - At Tuesday's closing bell, Alexion Pharma's stock fell 1.71%, ending the trading session at $115.73.
Volume traded for the day: 1.34 million shares.
Stock performance in the previous six-month period – up 6.56%; and past twelve-month period – up 18.45%
After yesterday's close, Alexion Pharma's market cap was at $25.70 billion.
Price to Earnings (P/E) ratio was at 42.77.
The stock is part of the Healthcare sector, categorized under the Biotechnology industry.
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