UK competition watchdog weighs in on Alexion purchase

AstraZeneca’s (LSE: AZN) planned $39 billion buy of American rare disease specialist Alexion Pharmaceuticals (Nasdaq: ALXN) hit a speed bump on Tuesday, after the UK’s antitrust body launched a review of the deal.

The Competition and Markets Authority (CMA) said that relevant parties had until June 3 to submit input on the process, and that it would decide by July 21 whether to instigate a more thorough investigation.

In a statement, AstraZeneca described the initiation of the formal review as “another important step towards closing of the proposed acquisition.”