Alexion Buys Out Portola, But Analysts Don’t See Value
The acquisition brings Alexion the bleeding reversal agent Andexxa, which execs called a synergistic addition to its portfolio – but analysts are struggling to see the match with Alexion’s chronic rare disease therapies.
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The company agreed to pay $930m up front to acquire Achillion, which has two drugs in Phase II development for complement alternative pathway-mediated rare diseases.
It has taken a while and there were concerns that another trial may be needed before approval but AndexXa has got the green light in the US as a reversal agent for Eliquis and Xarelto. It comes with a warning and post-marketing commitments but Portola has very high hopes.
The repurposed drug showed substantial improvement over existing therapies in second-line treatment of patients with HRAS-mutant tumors.