$1 billion Achillion buy creates rare blood disease powerhouse

Alexion Pharmaceuticals (Nasdaq: ALXN) is buying Factor D inhibitor specialist Achillion Pharmaceuticals (Nasdaq: ACHN) in a deal worth around $930 million, or $6.30 per share.

Achillion is working on therapies to complement alternative pathway-mediated rare diseases, such as paroxysmal nocturnal hemoglobinuria (PNH) and C3 glomerulopathy (C3G), and has two clinical-stage medicines in development.

Industry analyst SVB Leerink said its initial assessment of the transaction was “positive,” given “the overall transaction size of $930 million, where deals of ~$1-$5 billion have higher success rate.”