The European Commission has cleared AstraZeneca’s proposed acquisition of Alexion Pharmaceuticals for $39bn.
This marks an ‘important step’ towards the completion of the acquisition, which was first announced in December last year.
The latest move follows the receipt of clearance from the US Federal Trade Commission for the acquisition in April this year.
AstraZeneca has already received complete clearances from regulatory authorities in Brazil, Canada, Russia, Colombia, Morocco, Turkey, Israel, Saudi Arabia, South Korea, Taiwan and Japan.
However, the company still required regulatory clearance in the UK which remains a requirement for the completion of the deal.
AstraZeneca executive director and chief financial officer Marc Dunoyer said: “We are pleased to have secured clearance from the European Commission for the proposed acquisition of Alexion, a pioneer in the discovery and development of medicines for rare diseases.
“We are now another step closer to closing the acquisition and combining the two companies to create a leader in immunology and precision medicines. We continue to progress towards the completion of the acquisition during this quarter.”
Alexion’s portfolio includes anti-complement component 5 (C5) monoclonal antibody, Soliris (eculizumab), and Ultomiris (ravulizumab), a second-generation C5 monoclonal antibody.
AstraZeneca expects the acquisition would enhance its scientific presence in immunology by adding Alexion’s complement-technology platform and an extensive pipeline.
Subject to receipt of additional global regulatory clearances, the transaction is expected to be concluded in the third quarter of this year.
Upon completion of the deal, a dedicated business unit called ‘Alexion, The AstraZeneca Rare Disease’ will be created with headquarters in Boston, US.