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AstraZeneca: Alexion completes deal with Pfizer

( - AstraZeneca's rare disease subsidiary Alexion announced on Wednesday that it has completed the acquisition of the gene therapy business of US-based Pfizer, a deal valued at close to $1bn.

Initially announced at the end of July, this acquisition will enable Alexion and AstraZeneca to strengthen their capabilities in genomic medicine, aiming to develop new targeted therapies.

Several Pfizer employees are expected to join Alexion's teams as part of the deal.

The transaction's reference price of $1bn does not take into account future royalties on drugs that could potentially be commercialised as a result of the agreement.

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