Drugmaker Alexion to buy biotech Achillion in $930 mln deal

Alexion Pharmaceuticals has agreed to buy small biotech Achillion Pharmaceuticals in a $930 million deal, to boost its pipeline of rare disease treatments.

Alexion’s offer of $6.30 per share represents a premium of 72.6 per cent to Achillion stock’s close.

The deal is expected to close in the first half of 2020, the companies said.