European regulators have cleared Astrazeneca’s £28bn takeover of rival Alexion Pharmaceuticals, the British company announced today.
The deal, first agreed in December, will give Astrazeneca access to five new drugs and more than a dozen in Alexion’s pipeline.
Astra said the clearance from Brussels was an important step towards completed its buyout of the New York-listed firm.
It follows competition clearance in countries including the US and Japan, though UK regulators are yet to issue a verdict on the deal.
“We are pleased to have secured clearance from the European Commission for the proposed acquisition of Alexion, a pioneer in the discovery and development of medicines for rare diseases,” said Marc Dunoyer, executive director and chief financial officer.
“We are now another step closer to closing the acquisition and combining the two companies to create a leader in immunology and precision medicines. We continue to progress towards the completion of the acquisition during this quarter.”
Shareholders of both companies threw their support behind the deal following a vote in May.
If the deal is confirmed, the combined group will set up a new division focused on rare diseases, which will be headquartered in Boston.