AIRLINK 59.74 Decreased By ▼ -0.46 (-0.76%)
BOP 6.27 Increased By ▲ 0.02 (0.32%)
CNERGY 4.39 Increased By ▲ 0.33 (8.13%)
DFML 15.91 Increased By ▲ 0.16 (1.02%)
DGKC 71.25 Increased By ▲ 3.00 (4.4%)
FCCL 18.44 Increased By ▲ 0.82 (4.65%)
FFBL 26.10 Increased By ▲ 0.60 (2.35%)
FFL 9.15 Increased By ▲ 0.06 (0.66%)
GGL 10.33 Increased By ▲ 0.48 (4.87%)
HBL 114.80 Decreased By ▼ -0.20 (-0.17%)
HUBC 111.86 Decreased By ▼ -0.14 (-0.13%)
HUMNL 6.65 Increased By ▲ 0.10 (1.53%)
KEL 4.79 Increased By ▲ 0.26 (5.74%)
KOSM 4.68 Increased By ▲ 0.16 (3.54%)
MLCF 38.89 Increased By ▲ 0.99 (2.61%)
OGDC 123.17 Increased By ▲ 2.62 (2.17%)
PAEL 21.92 Increased By ▲ 0.17 (0.78%)
PIAA 10.95 Increased By ▲ 0.05 (0.46%)
PIBTL 5.99 Decreased By ▼ -0.03 (-0.5%)
PPL 108.34 Increased By ▲ 1.54 (1.44%)
PRL 28.12 Increased By ▲ 0.77 (2.82%)
PTC 11.07 Increased By ▲ 0.52 (4.93%)
SEARL 51.55 Decreased By ▼ -0.45 (-0.87%)
SNGP 67.81 Increased By ▲ 0.91 (1.36%)
SSGC 11.56 Increased By ▲ 0.03 (0.26%)
TELE 8.07 Increased By ▲ 1.02 (14.47%)
TPLP 11.72 Increased By ▲ 0.16 (1.38%)
TRG 75.71 Decreased By ▼ -5.04 (-6.24%)
UNITY 22.75 Increased By ▲ 1.60 (7.57%)
WTL 1.28 Increased By ▲ 0.01 (0.79%)
BR100 6,545 Increased By 61.1 (0.94%)
BR30 22,298 Increased By 199.8 (0.9%)
KSE100 63,703 Increased By 484.4 (0.77%)
KSE30 21,508 Increased By 202.1 (0.95%)
World

UK regulator reviewing AstraZeneca's $39bn Alexion buyout

  • UK's CMA assessing if deal could hurt market competition.
  • CMA sets June 3 deadline for comments, sees decision by July 21.
  • AstraZeneca shares marginally lower, agreed deal in December.
Published May 25, 2021

Britain's competition regulator is reviewing AstraZeneca's planned $39 billion takeover of US-based Alexion on whether it could reduce competition in Britain or other markets.

The UK's Competition and Markets Authority (CMA) said on Tuesday it was inviting comments from any interested party on the deal to help its assessment, a routine carried out for major deals, and set a deadline of June 3 for any submissions.

Anglo-Swedish drugmaker AstraZeneca agreed to buy Alexion in December in its largest ever deal in a bet on rare-disease immunology and to boost its business, which includes a fast-growing cancer medicines unit and a major COVID-19 vaccine.

AstraZeneca's European peers Roche and Novartis also have a portfolio of drugs for rare diseases and immunology products.

The CMA review is part of an initial analysis the regulator refers to as "phase 1", and is likely to be wrapped up by July 21, it said, adding the CMA expects to post its decision afterwards if the deal has been cleared or referred to a deeper, "phase 2" probe.

"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," a representative for AstraZeneca said.

Shareholders of the Cambridge, UK-based company cleared the proposed deal at a general meeting earlier this month where 99.89% of votes cast were in favour of approving it.

The United States in April approved the deal, as have other countries including Canada, Brazil and Russia. Regulatory clearances from regions such as Japan and the European Union are pending.

AstraZeneca, whose stock was 0.3% lower at 8,127 pence by 1112 GMT, is hoping an improved version of Alexion's best-selling drug and other rare-disease medicines will help build a deeper hold in China and other emerging markets.

Boston, Massachusetts-based Alexion was not available for comment outside of business hours.

Comments

Comments are closed.