London
Britain’s AstraZeneca has agreed to buy US drugmaker Alexion Pharmaceuticals for $39 billion in cash and shares to bolster its positions in immunology and rare diseases. AstraZeneca, one of the frontrunners in the drug industry’s search for a Covid-19 vaccine, said on Saturday that Alexion shareholders would receive $60 in cash and about $115 worth of equity, either in London-traded ordinary shares or in dollar-denominated American Depositary Shares. Based on a reference average ADR price of $54.14, that implies a total price of $175 per share. Alexion shares closed at around $121 apiece.–Agencies
