BRIEF—FTC clears AstraZeneca's buy of Alexion

AstraZeneca’s proposed acquisition of Alexion Pharmaceuticals has achieved an important step toward completion, having cleared US Federal Trade Commission review.

This follows the conclusion of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act, and the news saw Alexion’s shares rise 4% to $163.97, still less than the $175 per share, or total $30 billion as per AstraZeneca’s offer in December 2020.

The announcement follows competition clearances in Canada, Brazil, Russia and other countries globally.

Additional global regulatory clearances are pending, including but not limited to the UK, European Union and Japan.

The acquisition remains expected to close in third-quarter 2021, subject to receipt of additional global regulatory clearances and approval by shareholders of both companies, with shareholder voting anticipated on May 11, 2021.