BioCentury
ARTICLE | Deals

Alexion sees opportunity in slow-selling Andexxa, buys Portola for $1.4B

A rare Alexion deal for a marketed product comes at a relative discount as Portola’s stock price has sunk

May 5, 2020 6:40 PM UTC
Updated on May 5, 2020 at 11:46 PM UTC

With its purchase of hematology company Portola at a triple-digit premium, Alexion is signaling that it believes its commercial expertise can boost sales of Factor Xa reversal agent Andexxa/Ondexxya to meet expectations where Portola had been falling short.

Alexion Pharmaceuticals Inc. (NASDAQ:ALXN) will pay more than $1.4 billion to acquire Portola Pharmaceuticals Inc. (NASDAQ:PTLA) for $18 per share, well over twice its most recent closing price of $7.76...