Competition watchdog to probe Covid-19 vaccine maker AstraZeneca over £27.5bn US drug deal
The UK’s Competition and Markets Authority (CMA) will probe Covid-19 vaccine maker AstraZeneca over its £27.5bn mega deal to buy a US drug company.
The CMA said it was looking into whether Cambridge-based AstraZeneca’s purchase of Alexion Pharmaceuticals could harm competition in the UK.
The CMA has set a deadline of 3 June for responses for its so-called phase one investigation.
AstraZeneca agreed to buy Boston-based Alexion in December, marking the drug giant’s biggest acquisition and a move to boost its expertise in immunology and rare diseases.
The deal was approved by shareholders earlier this month.
It is a milestone for AstraZeneca – which has developed a Covid-19 vaccine together with Oxford University – and will diversify the group, adding to its fast-growing cancer treatment business.
AstraZeneca is hoping to complete the takeover of Alexion in the third quarter of the year, although the CMA probe could impact that timeline, particularly if the investigation moves to a phase two.