Alexion bags a discount biotech buyout for $1.4B, branching out in new directions from its Soliris franchise
Alexion is taking a trip down to the discount basement for its next M&A deal. And this time the executive team wants to branch out into new fields.
The big biotech reported early Tuesday that it struck a deal to buy Portola $PTLA at $18 a share. That may look like a large premium compared to the $7.74 Monday close, but the stock is trading at a fraction of where it was a year ago, before a confluence of events carved it down.
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