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.
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.