UK's CMA to probe $39bn AstraZeneca-Alexion deal

Britain’s Competition and Markets Authority (CMA) said it is looking into AstraZeneca’s $39bn acquisition of America's Alexion Pharmaceuticals over concerns the deal could harm competition in the UK.

The CMA has set a deadline of June 3 for comments for its so-called phase one investigation.

Anglo-Swiss drug maker AstraZeneca agreed to buy Boston-based Alexion for $175 a share in December, as it looked to expand its expertise in immunology and rare diseases. The cash-and-shares deal was approved by shareholders earlier this month.

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

The US has cleared the deal, as have other countries including Canada, Brazil and Russia.