Alexion Pharma to pay $8.4 billion for rare disease treatment developer Synageva BioPharma
Alexion Pharmaceuticals is spending about $8.4 billion - a huge premium — to buy Synageva BioPharma, a fellow rare disease treatment developer with no products on the market that booked a first-quarter loss of nearly $60 million.
Alexion will pay $115 in cash and a portion of its stock for each Synageva share. That puts the total per-share price at about $226, based on Alexion's Tuesday closing price.
That's more than double the value Synageva BioPharma Corp.'s closing price of $95.87 on Tuesday. Shares of the drugmaker are soaring in premarket trading
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