AstraZeneca to buy US drug maker Alexion in $39bn deal

Pharmaceutical company AstraZeneca said it was buying US drug developer Alexion in a cash and shares deal worth $39bn.

Both companies have approved the deal, which still needs regulatory and shareholder approval. The deal is expected to close in the third quarter of 2021.

"This acquisition allows us to enhance our presence in immunology," AstraZeneca chief executive Pascal Soriot said in a statement.

AstraZeneca AstraZeneca and Oxford University have jointly developed a coronavirus vaccine that British and Canadian regulators are currently assessing.