Press "Enter" to skip to content

America based Alexion Pharmaceuticals Inc. stock outperforms

The Shares of Alexion Pharmaceuticals Inc. dropped 0.23% to $171.41 Tuesday. This proved to be an all-around rough trading session for the stock market, with the S&P 500 Index SPX falling 0.87% to 4,152.10 and Dow Jones Industrial Average DJIA falling 1.36% to 34,269.16. The stock’s fall snapped a two-day winning streak.

America based Alexion Pharmaceuticals Inc. closed $1.18 below its 52-week high ($172.59), which the company reached on May 10th. The stock demonstrated a mixed performance when compared to some of its competitors Tuesday, as Gilead Sciences Inc. GILD fell 0.39% to $67.22, Vertex Pharmaceuticals Inc. VRTX rose 0.05% to $213.00, and Regeneron Pharmaceuticals Inc. REGN fell 0.23% to $501.19. Trading volume (2.4 M) remained 17,074 below its 50-day average volume of 2.4 M.

Alexion Pharmaceuticals Inc. said that its shareholders have approved a proposed acquisition by AstraZeneca Plc. The acquisition is expected to close in the third quarter of 2021. In December 2020, AstraZeneca agreed to buy Alexion for $175 per share in cash and stock, valuing the Boston-based company at $39 billion.

The shareholders would receive $60 in cash and 2.1243 AstraZeneca American Depositary Shares or ADSs for each Alexion share. Shares of AstraZeneca have risen 1.5% so far this year compared with its industry’s increase of 1.7%. The acquisition will enable AstraZeneca to strengthen its position in immunology. The company already has a strong presence in the markets of oncology, cardiovascular, renal and metabolism, and respiratory diseases.

Ludwig Hantson, PhD, Chief Executive Officer, Alexion, said that the company is pleased with today’s affirmative shareholder vote, which brings the company closer to completing a transaction that will accelerate the combined company’s ability to develop and provide access to life-changing medicines for patients with rare and devastating diseases around the world.

Be First to Comment

Leave a Reply

Your email address will not be published. Required fields are marked *