Alexion Pharmaceuticals (ALXN) said Wednesday that it will acquire Achillion Pharmaceuticals to expand its pipeline of experimental drugs targeting rare diseases of the immune system.
The all-cash deal values Achillion at $930 million, or $6.30 per share, which represents a 72% premium over Achillion’s closing stock price on Tuesday. Achillion shareholders will also be offered a contingent value right worth another $2 per share, payable on the successful achievement of certain clinical and regulatory milestones.
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