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Mergers & Acquisitions

Alexion to acquire biotech firm Portola

by Michael McCoy
May 8, 2020 | APPEARED IN VOLUME 98, ISSUE 18

 

Alexion Pharmaceuticals has agreed to acquire Portola Pharmaceuticals in a deal valued at about $1.4 billion. Based in Boston, Alexion markets four drugs for rare diseases. Buying Portola will add Andexxa, a biologic drug that reverses the effects of two anticoagulants, to Alexion’s portfolio. Portola received US Food and Drug Administration approval for Andexxa in 2018 and recorded $112 million in sales of the drug in 2019.

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