Alexion Pharmaceuticals, Inc. / Achillion Pharmaceuticals, Inc.
2019 · Acquisition/Merger · $1.2B · Complete
Announcement Sentiment
80
Strongly positive
Alexion acquired Achillion for $6.30 per share (~$930M initial cash consideration) plus non-tradeable CVRs of up to $2.00 per share — $1.00 on FDA approval of danicopan and $1.00 on ACH-5228 (danicopan follow-on) Phase 3 initiation (~$300M maximum). The deal added Achillion's oral Factor D inhibitor portfolio targeting complement-mediated rare diseases (PNH, C3 glomerulopathy) and closed January 28, 2020. The thesis was validated: the FDA approved the lead asset, danicopan (Voydeya), on March 29, 2024 as an add-on to ravulizumab or eculizumab for clinically significant extravascular hemolysis in adults with PNH. By then Alexion had itself been acquired by AstraZeneca (completed July 21, 2021), so Voydeya commercialized under AstraZeneca's Alexion Rare Disease unit.