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Alexion Pharmaceuticals to buy Synageva BioPharma for $8.4 billion

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Staff writer ▼ | May 6, 2015
Alexion Pharmaceuticals said it would buy Synageva BioPharma for $8.4 billion. The cash-and-stock offer values Synageva at $225.92 per share and that is more than double of the closing price of $95.87 on Tuesday.
Synageva BioPharma
Acquisition   $225.92 per Synageva BioPharma share
The deal will give Alexion access to Kanuma - Synageva's treatment for a rare disease Lysosomal Acid Lipase Deficiency, where build-up of fatty material in the blood and liver causes unexpected complications and some times early death.

Kanuma's marketing application is being reviewed in the United States and Europe. Alexion is offering $115 in cash and 0.6581 of its shares for each share of Synageva. The deal is expected to add to Alexion's 2018 profit, while allowing $150 million in cost savings in 2017, the companies said in a statement.

Alexion has received committed financing of $3.5 billion from Bank of America Merrill Lynch and JPMorgan for the deal.