The market competition watchdog in the UK Competition Markets Authority (CMA) is reviewing an acquisition deal between pharmaceutical biotechnology company AstraZeneca Plc. (LON: AZN) and United States based biotechnology company specializing on developing life-changing therapies for people with rare disorders Alexion Pharmaceuticals Inc. (ALXN).
The market regulator is looking if there are any ways this $39 billion acquisition deal will affect market competition in the UK or any other parts across the world.
CMA is welcoming any comments or suggestions from anyone who is interested in assessing the merger deal. The regulator has set June 3 as the deadline for such submissions.
AstraZeneca announced it had resolved to buy Alexion in December as a way of making entry into rare-disease and immunology drugs. In the beginning of this month, AstraZeneca’s shareholders approve this acquisition proposal during a general meeting.
“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,” said AstraZeneca.
