In rejecting the recommendation for a sale, the board of directors pointed … ET – BOSTON, MA & SOUTH SAN … Portola Pharmaceuticals is an American clinical stage biotechnology company that researches, develops and commercializes drugs. Shares of Portola Pharmaceuticals more than doubled in premarket trading on news that Boston-based Alexion Pharmaceuticals is acquiring the company and its blood-disorder assets for $1.41 billion in cash. Portola’s commercialized medicine, Andexxa [coagulation factor Xa (recombinant), inactivated-zhzo], marketed as Ondexxya in Europe, is … As of December 31, 2019, cash and short-term investments were approximately $430 million. Alexion Pharmaceuticals has signed a definitive agreement to acquire Portola Pharmaceuticals for a total consideration of $1.41bn, or $18 per share. BOSTON –(BUSINESS WIRE)–Jul. The Value Investor Fri, May 08, 2020 11 Comments. Under terms of the deal, Alexion will acquire Portola’s stock at $18 per share. Portola's main drug Andexxa is what's known as a reversal agent for Factor Xa inhibitors, a class of anticoagulant drugs that includes Bristol Myers Squibb and Pfizer's Eliquis as well as Johnson & Johnson and Bayer's Xarelto. The company focuses primarily on drugs used in the treatment of thrombosis and hematological malignancies. The acquisition adds Factor Xa inhibitor reversal agent Andexxa ® [coagulation factor Xa (recombinant), inactivated-zhzo], marketed as Ondexxya ® in Europe, to Alexion’s commercial … Alexion completed the acquisition through a tender offer and subsequent merger of Portola with Odyssey Merger Sub Inc., a wholly owned subsidiary of Alexion (“Buyer”). As part of the acquisition, Alexion will also be acquiring cash currently on Portola's balance sheet, net of debt of approximately $215 million that will become due upon closing. The actual amounts will be determined as of the transaction close. As part of the acquisition, Alexion will also be acquiring cash currently on Portola’s balance sheet, net of debt of approximately $215 million that will become due upon closing. Portola is now a wholly owned subsidiary of Alexion. Alexion Pharmaceuticals, Inc. and Portola Pharmaceuticals, Inc.announced that they have entered into a definitive merger agreement for Alexion to acquire Portola, a commercial-stage biopharmaceutical company focused on life-threatening blood-related disorders. Portola’s commercialized medicine, Andexxa ® [coagulation factor Xa (recombinant), inactivated-zhzo], marketed as Ondexxya ® in … As of December 31, 2019, cash and short-term investments were approximately $430 million. Alexion will be acquiring cash currently on Portola’s balance sheet, net of debt of ~$215M that will become due upon closing. Alexion Pharmaceuticals, Inc. and Portola Pharmaceuticals, Inc. announced today that they have entered into a definitive merger agreement for Alexion to acquire Portola, a commercial-stage biopharmaceutical company focused on life-threatening blood-related disorders. Alexion To Acquire Portola - What That Means. Alexion will also be acquiring $215 million of cash on … The actual amounts will be determined as of the transaction close. For Alexion, the acquisition of Portola comes about six months after the company’s board of directors rejected a large stakeholder’s call for a sale. Alexion: Another Deal, Now Portola. In rejecting the recommendation for a sale, the board of directors pointed … As of December 31, 2019, cash and short-term investments were approximately $430 million. Under the terms of the agreement, Alexion’s subsidiary will initiate a tender offer to acquire all of the outstanding shares of Portola’s common stock at a price of $18 per share in cash. In premarket trading, the stock has risen to nearly $18. * alexion to acquire portola * alexion pharmaceuticals inc - deal for $18 per share in cash * alexion pharmaceuticals inc - alexion will fund transaction with cash on hand. The tender offer for all of the outstanding shares of common stock of Portola at a price of $18.00 per share expired as scheduled, one minute following 11:59 p.m., New … –Conference call and webcast scheduled for today, May 5, at 8:00 a.m. ET–. Alexion to Acquire Portola; Alexion to Acquire Portola Details Category: More News Published on Tuesday, 05 May 2020 18:49 Hits: 775 – Expands and diversifies Alexion’s hematology, neurology and critical care commercial portfolio with transformative Factor Xa inhibitor reversal agent – – Conference call and webcast scheduled for today, May 5, at 8:00 a.m. As part of the acquisition, Alexion will also be acquiring cash currently on Portola’s balance sheet, net of debt of approximately $215 million that will become due upon closing. Portola closed Monday at $7.76 per share. The actual amounts will be determined following the closure of the transaction; The transaction is expected to be closed in Q3’20. Andexxa rapidly reverses the pharmacologic effect of rivaroxaban and … Data are expected in the first half of 2021. The firms advised that "under the terms of the merger agreement, a subsidiary of Alexion will commence a tender offer to acquire all of the outstanding shares of Portola's common stock at a price of $18 per share in cash." The Value Portfolio Fri, May 15, 2020 4 Comments. For Alexion, the acquisition of Portola comes about six months after the company’s board of directors rejected a large stakeholder’s call for a sale. As part of the acquisition, Alexion will also be acquiring cash currently on Portola’s balance sheet, net of debt of approximately $215 million that will become due upon closing. Alexion completed the acquisition through a tender offer and subsequent merger of Portola with Odyssey Merger Sub Inc., a wholly owned subsidiary of Alexion (“Buyer”). The deal brings Portola’s Andexxa [coagulation factor Xa … In premarket trading, the stock has risen to nearly $18. Portola closed Monday at $7.76 per share. Portola is now a wholly owned subsidiary of Alexion. When the tender offer is completed, Alexion will buy back all remaining shares not tendered in the offer at the same price of $18 per share through a merger. The tender offer is subject to customary conditions, including the tender of a majority of the outstanding shares of Portola common stock, the expiration or termination of the waiting period under the Hart … Portola closed Monday at $7.76 per share. ALXN2075 (cerdulatinib): Acquired as part of the Portola acquisition, ALXN2075 is a dual spleen tyrosine kinase and janus kinase (SYK/JAK) inhibitor being evaluated in a Phase 1/2a study in patients with relapsed/refractory chronic lymphocytic leukemia or B-cell or T-cell non-Hodgkin lymphoma. For Alexion, the acquisition of Portola comes about six months after the company’s board of directors rejected a large stakeholder’s call for a sale. Alexion is a global biopharmaceutical company focused on developing life-changing therapies for people living with rare disorders. In premarket trading, the stock has risen to nearly $18. Last week, Alexion inked the $1.4 billion agreement to acquire Portola and its laggard bleeding drug Andexxa, which has delivered disappointing sales since its launch in 2018. Alexion plans to fund the purchase with existing cash on hand and the transaction is expected to close in Q3/20. In rejecting the recommendation for a sale, the board of directors pointed … The tender offer for all of the outstanding shares of common stock of Portola at a price of $18.00 per share expired as scheduled, one minute following 11:59 p.m., New … Headquartered and founded in South San Francisco, California, Portola Pharmaceuticals is a member of the NASDAQ Biotechnology Index. 2, 2020– Alexion Pharmaceuticals, Inc. (NASDAQ:ALXN) today announced the successful completion of its acquisition of Portola Pharmaceuticals, Inc. (NASDAQ:PTLA). As part of the acquisition, Alexion will also be acquiring cash currently on Portola’s balance sheet, net of debt of approximately $215 million that will become due upon closing. The company acquired Portola Pharmaceuticals in July for $1.4 billion, but was strongly opposed by activist investors Elliott Management Corp. Portola markets Andexxa/Ondexxya, the first and only approved Factor Xa inhibitor reversal agent, used to reverse the anticoagulant effects of Factor Xa inhibitors rivaroxaban and apixaban in severe and uncontrolled bleeding. Alexion Pharmaceuticals Inc., of Boston, will diversify its portfolio beyond its top-selling Soliris (eculizumab) and C5 inhibitor Ultomiris (ravulizumab) by acquiring Portola Pharmaceuticals Inc. for $1.4 billion. Commenting on Alexion acquisition of Portola, Scott Garland – President and CEO of Portola Pharmaceuticals, said: “In developing and launching Andexxa, Portola has established a strong foundation for changing the standard of care for patients receiving Factor Xa inhibitors that experience a major, life-threatening bleed. The tender offer for all of the outstanding shares of common stock of Portola at a price of $18.00 per share expired as scheduled, one minute following 11:59 p.m., New York City time, on July 1, … Alexion’s CEO, Ludwig Hantson, told investors May 5 that the acquisition immediately diversifies the company’s commercial-stage portfolio by adding Portola’s Andexxa (coagulation factor … The acquisition will expand Alexion’s … Unlike those earlier three, however, Alexion's acquisition of Portola places the company in a broader, rather than rare disease, market. The actual amounts will be determined as of the transaction close. Alexion Pharmaceuticals, Inc. (NASDAQ:ALXN) and Portola Pharmaceuticals, Inc. (NASDAQ:PTLA) announced today that they have entered into a definitive merger agreement for Alexion to acquire Portola, a commercial-stage biopharmaceutical company focused on life-threatening blood-related disorders. Alexion Pharmaceuticals (NASDAQ:ALXN) has completed its acquisition of Portola Pharmaceuticals (NASDAQ:PTLA), through a tender offer and merger with its subsidiary, Odyssey Merger Sub Inc. Under terms of the deal, Alexion will acquire Portola’s stock at $18 per share. In May 2020, Alexion … Alexion to acquire all shares of Portola’s common stock at $18/ share in cash with a premium of 132%. Portola’s commercialized medicine, Andexxa ® [coagulation factor Xa (recombinant), … Portola Pharmaceuticals is a commercial-stage biopharmaceutical company focused on developing therapeutics for life-threatening blood disorders. Under terms of the deal, Alexion will acquire Portola’s stock at $18 per share. Alexion said the acquisition of Portola will bolster its commercial portfolio and create long-term value for its shareholders. As part of the acquisition, Alexion will also be acquiring cash currently on Portola’s balance sheet, net of debt of approximately $215 million that will become due upon closing. Alexion completed the acquisition through a tender offer and subsequent merger of Portola with Odyssey Merger Sub Inc., a wholly owned subsidiary of Alexion (“Buyer”). Portola is now a wholly owned subsidiary of Alexion. Alexion completed the acquisition through a tender offer and subsequent merger of Portola with Odyssey Merger Sub Inc., a wholly owned subsidiary of Alexion ("Buyer"). * alexion to acquire portola * alexion pharmaceuticals inc - deal for $18 per share in cash * alexion pharmaceuticals inc - alexion will fund transaction with cash on hand. Under the terms of the merger agreement, a subsidiary of Alexion will commence a tender offer to acquire all of the outstanding shares of Portola’s common stock at a price of $18 per share in cash. The purchase is subject to approval by a majority interest of … ALXN1820: In January 2021, Alexion initiated a Phase 1 …
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