Alexion Pharma to buy Synageva BioPharma for $8.4 billion

[May 06, 2015] (Reuters) - Drugmaker Alexion Pharmaceuticals Inc said it would buy Synageva BioPharma Corp for $8.4 billion to gain access to its experimental early-stage treatment for a rare metabolic disease.

Alexion's cash-and-stock offer values Synageva at $225.92 per share, representing a premium of 135.7 percent to the stock's close on Tuesday.

The deal is expected to add to Alexion's 2018 profit, while allowing $150 million in cost savings in 2017, the companies said in a statement on Wednesday.

(Reporting by Vidya L Nathan in Bengaluru; Editing by Savio D'Souza)

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