The merger deal between British-Swedish pharmaceutical company AstraZeneca Plc. (LON: AZN) and United States based pharmaceutical company Alexion Pharmaceuticals Inc. (ALXN) has been given a green light to go ahead by UK’s competition watchdog.
The Competition and Markets Authority says that this merger deal will reinforce AstarZeneca’s line of cancer medicines leaving the merged company with a larger market share when it comes to cancer treatment.
The regulator kicked off review of the deal in March to establish whether this merger would reduce competition in Britain and any other markets. Following a review conclusion, the deal is expected to be closed by July 21.
Once the deal is finalized it is expected that there will be a managerial shake up in AstraZeneca. The company says it will move its chief financial officer, Marc Dunoyer, to head Alexion while Aradhana Sarin, will move from Alexion and take over from Dunoyer.
“We are very pleased to have secured this critical final clearance,” said Marc Dunoyer.