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Alexion Pharmaceuticals Inc.
ALXN, + 0.37%
Wednesday announced an agreement to purchase Syntimmune for a total value of $ 1.2 billion. Syntimmune is a clinical stage biotechnology company that is currently undergoing treatment for autoimmune hemolytic anemia in phase 1b / 2a. The agreement includes an initial payment of $ 400 million and additional milestone payments of up to $ 800 million. Alexion plans to finance the transaction with cash on hand. Alexion's share, still inactive in pre-market trading, has risen 7.9% since the beginning of the year, while the iShares Nasdaq Biotechnology ETF
BWI + 0.23%
rebounded 12.6% and the S & P 500
SPX, -0.13%
scored 9.1%.
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