The pharmaceutical industry once again reigned supreme on the transactional front this week with Alexion Pharmaceuticals Inc.’s $8.4 billion buy of Synageva BioPharma Corp. The Cheshire, Connecticut-based acquirer specializes in rare disease medication, as does the Lexington, Massachusetts-based target.
Alexion will gain Synageva’s product Kanuma—currently under priority review by the U.S. Food and Drug Administration—through the deal, announced Wednesday. Kanuma has been developed for the treatment of Lysosomal Acid Lipase Deficiency, a potentially fatal condition that causes fatty buildup in the liver and blood vessel walls, according to Synageva.
