AstraZeneca funds 'phenomenal' deal despite Brexit vol

parliament_brexit_stormclouds_alamy_230x150
By Sam Kerr
01 Apr 2019

AstraZeneca, the British-Swedish pharmaceuticals giant, has priced a historic £2.7bn accelerated transaction ($3.5bn) to fund a transformational oncology collaboration. But sources close to the deal say that execution was complicated by Brexit drama last Friday.

Goldman Sachs and Morgan Stanley were bookrunners on the block trade, which is partially funding a deal that AstraZeneca has struck with Japanese pharmaceuticals company Daiichi Sankyo to work together to develop and sell trastuzumab deruxtecan, a new antibody-drug conjugate, which it is hoped will transform cancer treatment.

...

Already a subscriber?

Continue reading this article

Try full access to GlobalCapital

Free trial