We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
AstraZeneca (AZN) Gets EC's Clearance for Alexion Acquisition
Read MoreHide Full Article
AstraZeneca PLC (AZN - Free Report) announced that the European Commission has allowed the company to close its impending merger with Alexion Pharmaceuticals, Inc. . The deal is expected to close in the ongoing quarter.
The company has already received competition clearances for the above acquisition in the United States, Canada, Japan and several other countries. However, authorities in the United Kingdom are yet to give it clearance. AstraZeneca must have clearance in the United Kingdom to complete the deal.
Shares of AstraZeneca have rallied 21.6% so far this year compared with its industry’s growth of 10%.
Image Source: Zacks Investment Research
Notably, in December 2020, AstraZeneca entered into an agreement to acquire Alexion for $39 billion. The acquisition will enable AstraZeneca to strengthen its position in immunology. The company already has a strong presence in the markets of oncology, cardiovascular, renal and metabolism, and respiratory diseases.
Subsequently, in May 2021, shareholders of both companies voted in favor of the acquisition.
Upon successful completion of the same, a dedicated business unit will be formed, which will be known as Alexion, AstraZeneca Rare Disease, and will have its headquarters in Boston, MA.
We remind investors that Alexion currently markets blockbuster drug Soliris (eculizumab) – a first-in-class anti-complement component 5 (C5) monoclonal antibody – approved for the treatment of patients with paroxysmal nocturnal haemoglobinuria, generalized myasthenia gravis and neuromyelitis optica spectrum disorder. The franchise was further strengthened when Alexion launched Ultomiris (ravulizumab) – a second-generation C5 monoclonal antibody with a more convenient dosing regimen.
We note that rare diseases represent a high-growth disease area with a high unmet medical need. Hence, the acquisition will help AstraZeneca have a broad coverage in highly specialized care and become a leader in immunology and precision medicines.
Zoetis’ earnings estimates have been revised 1.6% upward for 2021 and 1.8% upward for 2022 over the past 60 days. The stock has rallied 16.5% year to date.
Bayer’s earnings estimates have been revised 4% upward for 2021 and 5.8% upward for 2022 over the past 60 days. The stock has inched up 3.6% year to date.
Zacks Names “Single Best Pick to Double”
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research SherazMian hand-picks one to have the most explosive upside of all.
You know this company from its past glory days, but few would expect that it’s poised for a monster turnaround. Fresh from a successful repositioning and flush with A-list celeb endorsements, it could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in a little more than 9 months and Nvidia which boomed +175.9% in one year.
Image: Bigstock
AstraZeneca (AZN) Gets EC's Clearance for Alexion Acquisition
AstraZeneca PLC (AZN - Free Report) announced that the European Commission has allowed the company to close its impending merger with Alexion Pharmaceuticals, Inc. . The deal is expected to close in the ongoing quarter.
The company has already received competition clearances for the above acquisition in the United States, Canada, Japan and several other countries. However, authorities in the United Kingdom are yet to give it clearance. AstraZeneca must have clearance in the United Kingdom to complete the deal.
Shares of AstraZeneca have rallied 21.6% so far this year compared with its industry’s growth of 10%.
Notably, in December 2020, AstraZeneca entered into an agreement to acquire Alexion for $39 billion. The acquisition will enable AstraZeneca to strengthen its position in immunology. The company already has a strong presence in the markets of oncology, cardiovascular, renal and metabolism, and respiratory diseases.
Subsequently, in May 2021, shareholders of both companies voted in favor of the acquisition.
Upon successful completion of the same, a dedicated business unit will be formed, which will be known as Alexion, AstraZeneca Rare Disease, and will have its headquarters in Boston, MA.
We remind investors that Alexion currently markets blockbuster drug Soliris (eculizumab) – a first-in-class anti-complement component 5 (C5) monoclonal antibody – approved for the treatment of patients with paroxysmal nocturnal haemoglobinuria, generalized myasthenia gravis and neuromyelitis optica spectrum disorder. The franchise was further strengthened when Alexion launched Ultomiris (ravulizumab) – a second-generation C5 monoclonal antibody with a more convenient dosing regimen.
We note that rare diseases represent a high-growth disease area with a high unmet medical need. Hence, the acquisition will help AstraZeneca have a broad coverage in highly specialized care and become a leader in immunology and precision medicines.
Zacks Rank & Other Stocks to Consider
AstraZeneca currently carries a Zacks Rank #2 (Buy). Other stocks worth considering in the healthcare sector include Zoetis Inc. (ZTS - Free Report) and Bayer Aktiengesellschaft (BAYRY - Free Report) , both carrying the same Zacks Rank #2 at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Zoetis’ earnings estimates have been revised 1.6% upward for 2021 and 1.8% upward for 2022 over the past 60 days. The stock has rallied 16.5% year to date.
Bayer’s earnings estimates have been revised 4% upward for 2021 and 5.8% upward for 2022 over the past 60 days. The stock has inched up 3.6% year to date.
Zacks Names “Single Best Pick to Double”
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research SherazMian hand-picks one to have the most explosive upside of all.
You know this company from its past glory days, but few would expect that it’s poised for a monster turnaround. Fresh from a successful repositioning and flush with A-list celeb endorsements, it could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in a little more than 9 months and Nvidia which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>