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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GlaxoSmithKline's market value has slipped in the past three years and the number of failures in the clinic have grown. The major's leadership will be casting nervous glances towards a major shareholder that has a reputation for aggressive restructuring calls.
Some analysts are suggesting that AstraZeneca is getting hold of a "scarce and high-quality asset" in Alexion for a very reasonable price and shareholders could demand more than the $175 per share offer on the table.
During Q2 biopharmas reached $5.9bn in merger and acquisition value and drew in $44bn in potential deal value from alliances. Device company M&A values reached $159m, while in vitro diagnostic firms and research tools players completed M&A activity that totaled $1.4bn.