CMA and EU antitrust watchdogs eye AstraZeneca’s $39bn Alexion deal
EU antitrust watchdogs and are set to decide by this weekend whether to approve AstraZeneca’s $39bn bid for biopharmaceutical company Alexion, a European Commission filing revealed today.
Anglo-Swedish drugmaker AstraZeneca sought approval for the deal on Monday. However, the UK’s competition regulator is reviewing the takeover bid for the US-based pharma firm, until 5 July – looking at whether it could shrink competition in the UK or other markets.
The UK’s Competition and Markets Authority (CMA) said today that it welcomed any comments from interested parties on the deal to help its assessment, setting a deadline of 3 June for submissions.
The famed drugmaker AstraZeneca, which became a household name after its vaccine went to market, agreed to buy Alexion in December.
The eye-watering $39bn deal would be the vaccine makers largest-ever deal and marks a bet on the rare-disease immunology market.
The CMA review forms part of the initial analysis and is likely to be finalised by 21 July, the watchdog said.
“The commencement of the UK CMA’s formal review is another important step towards closing of the proposed acquisition, which we continue to expect will be in the third quarter of 2021,” an AstraZeneca spokesperson said.
The deal has been approved by the US in April, alongside Canada, Brazil and Russia. Meanwhile, regulatory approvals from Japan and the EU are pending.
The vaccine makers shareholders were overwhelmingly in favour of the deal at a general meeting earlier this month, where 99.89 per cent of votes cast approved.