Foley Hoag LLP assisted Alexion Pharmaceuticals Inc in the transaction.
Alexion Pharmaceuticals (NASDAQ:ALXN) executed the acquisition of biotech Achillion Pharmaceuticals Inc (NASDAQ:ACHN).
The initial consideration of approximately $930 million, or $6.30 per share of Achillion common stock, will be funded with cash on hand. As part of the acquisition, Alexion will also be acquiring the cash currently on Achillion’s balance sheet.
Alexion’s acquisition of Achillion is subject to the approval of Achillion shareholders and satisfaction of customary closing conditions and approval from relevant regulatory agencies. The transaction is expected to close in the first half of 2020.
This acquisition represents a move that will help the company retain its dominance in treating rare blood disorders.
Achillion is a clinical-stage biopharmaceutical company focused on advancing its oral small molecule complement inhibitors into late-stage development and commercialization.
Alexion is a global biopharmaceutical company focused on serving patients and families affected by rare diseases through the discovery, development and commercialization of life-changing therapies.
Foley Hoag team was led by Partners Mark Haddad (Picture), Dan Clevenger, Associates Corey Brown, Mai Zymaris and Onyebuchi Udozorh, with assistance from Partners Teresa Martland, Earl Mellott, Areta Kupchyk, Mike Rosen, Sarah Cooleybeck, and Associate Yousef Mian.
Involved fees earner: Corey Brown – Foley Hoag; Daniel Clevenger – Foley Hoag; Sarah Cooleybeck – Foley Hoag; Mark Haddad – Foley Hoag; Areta Kupchyk – Foley Hoag; Teresa Martland – Foley Hoag; Earl Mellott – Foley Hoag; Yousef Mian – Foley Hoag; Michael Rosen – Foley Hoag; Onyebuchi Udozorh – Foley Hoag; Mai Zymaris – Foley Hoag;
Law Firms: Foley Hoag;
Clients: Alexion Pharmaceuticals;