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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