AstraZeneca shares fall on 'hefty' $39-billion Alexion deal

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AstraZeneca shares fall on $39-billion Alexion bill

-AstraZeneca shares fell as much as 9% on Monday, as investors moved to price in the costs of a $39 billion deal for U.S. biotech company Alexion Pharmaceuticals that would be the British drugmaker’s biggest ever corporate acquisition.

The terms of the deal give Alexion shareholders $60 in cash and about $115 worth of equity per share, working out at a premium of more than $50 per share according to Reuters calculations. The deal is a bet on rare-disease and immunology drugs that will aid Chief Executive Pascal Soriot in his bid to broaden AstraZeneca’s drug portfolio further after a successful push into cancer treatments.

 

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Scandal

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/ wiping roughly 6 billion pounds ($8.04 billion) off its market valuation of 107.1 billion pounds, as of Friday’s closing price../ .. 'live by the market, die by the market' . . .

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