UK regulators to review AstraZeneca's €32bn Alexion buyout

The UK's competition regulator is reviewing AstraZeneca's €31.9 billion acquisition of US biopharma company Alexion amid concerns it could lead to reduced competition in Britain or elsewhere.

The UK's Competition and Markets Authority (CMA) has invited interested parties to comment on the deal in order to help it make an assessment with a deadline of June 3 for submissions.

Based in Cambridge, UK, AstraZeneca, which became a household name with its Covid-19 vaccine, agreed to the Alexion purchase in December 2020 in its largest deal ever. The move was seen as a bet on rare disease and immunology drugs as well as a push to diversify from its rapidly-growing cancer business.

Also read: European Commission launches legal action against AstraZeneca

AstraZeneca shareholders approved the proposed purchase at a general meeting earlier this month.

The deal has already been cleared in other countries including the US, Brazil, Canada and Russia.

"The commencement of the UK CMA’s formal review is another important step towards the closing of the proposed acquisition, which we continue to expect will be in the third quarter of 2021," said an AstraZeneca representative.

Alexion's top-selling drug Soliris is used to combat a range of rare immune disorders including paroxysmal nocturnal hemoglobinuria, which causes anaemia and blood clots.

AstraZeneca hopes an improved version of the medicine will have even greater market potential and expects to boost growth by introducing Alexion's rare-disease drugs to China and other emerging markets.

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