At Portola, he led the company through the commercial launch of Andrexxa ®, a novel reversal agent for factor Xa inhibitors. We use cookies to ensure that we give you the best experience on our website. - Acquisition diversifies company’s hematology, neurology and critical care commercial portfolio with addition of only approved Factor Xa inhibitor reversal agent -. “We are excited to add a transformative, first-in-class medicine like Andexxa, which rapidly reverses life-threatening bleeds that result from Factor Xa inhibitors, to our growing critical care portfolio. As a result of the merger, as of July 2, 2020, Portola common stock will cease to be traded on the NASDAQ Global Select Market. Today, you will also receive our 7 Best Stocks for the Next 30 Days. Certain statements made in this press release may constitute forward-looking statements. SAN FRANCISCO, Feb. 22, 2021 /PRNewswire/ -- The global anticoagulant reversal drugs market size is expected to reach USD 1.81 billion by 2027, according to a new report by Grand View Research, Inc.It is expected to expand at a CAGR of 14.3% from 2020 to 2027.The rising number of bleeding disorders, the introduction of new drugs, and the growing number of cases requiring … Zacks is the leading investment research firm focusing on stock research, analysis and recommendations. American Stock Transfer & Trust Company, LLC, the depositary and paying agent for the tender offer, has advised Alexion that 62,654,962 shares of Portola common stock were validly tendered and not validly withdrawn in the tender offer, representing approximately 79.7% of the shares outstanding. Privacy Policy | Cancellation Policy | Forward Looking Statement, Aveo Oncology Received FDA Approval for FOTIVDA for Advanced RCC Aveo Oncology (AVEO) drug FOTIVDA is an oral, next-generation vascular endothelial growth factor (VEGF) tyrosine kinase inhibitor (TKI). Activist investors Elliott Management Corp. opposed a deal the company struck earlier this year to acquire Portola Pharmaceuticals, saying … Andexxa is the first and only approved Factor Xa inhibitor reversal agent and has demonstrated transformative clinical value by rapidly reversing the anticoagulant effects of Factor Xa inhibitors rivaroxaban and apixaban in severe and uncontrolled bleeding. Home Circulation Vol. It is a potent, selective inhibitor of VEGFRs 1, 2, and 3 with a long half-life designed to improve efficacy and tolerability. Global Cannabis Pharmaceuticals Market Report 2020: Market is Expected to Reach $5.72 Billion by 2027 - Investments in R&D for Cannabis-Infused Drugs The acquisition adds Factor Xa inhibitor reversal agent Andexxa® [coagulation factor Xa (recombinant), inactivated-zhzo], marketed as Ondexxya® in Europe, to Alexion’s commercial portfolio. 2 2019 AHA/ACC/HRS Focused Update of the 2014 AHA/ACC/HRS Guideline for the Management of Patients With Atrial Fibrillation: A Report of the American College of Cardiology/American Heart Association Task Force on Clinical Practice Guidelines and the Heart Rhythm Society in Collaboration With the Society of Thoracic Surgeons Johnson & Johnson COVID-19 Vaccine Voting Tomorrow with Expected Approval... Cassava Sciences: Good News During Bad Market Days, Novavax is Bringing its COVID-19 Vaccine to the World’s Markets, Vir Biotechnology and GlaxoSmithKline Expanded Agreement. On average, they expect Lexicon Pharmaceuticals' stock price to reach $9.40 in the next year. See Also: Cellectis is Outperforming, The World Focus is on COVID-19 Treatments and Vaccines, Stars Before the Coronavirus Outbreak and Those Firms Treating COVID-19, The Whole World Against the Blind SARS-CoV-2 Virus, Prohost Biotech – Exclusive Biotech Research. Chris Stevo, 857-338-9309 Head of Investor Relations, We use cookies to give you the best online experience. Alexion disclaims any obligation to update any of these forward-looking statements to reflect events or circumstances after the date hereof, except when a duty arises under law. All rights reserved. Forward-looking statements include, among other things, statements related to the acquisition of Portola by Alexion, including: Alexion’s belief that the acquisition will build on the progress that Alexion has made diversifying its portfolio over the last few years; that Andexxa is a transformative, first-in-class medicine; that Andexxa will be a strategic fit within Alexion’s existing hematology and neurology portfolio; and Alexion’s belief that it can apply its global commercial excellence to enhance access and broaden the number of patients helped by Andexxa. “This acquisition provides the opportunity to grow our commercial portfolio, which builds on the significant progress we’ve made diversifying our pipeline over the last few years,” said Ludwig Hantson, Ph.D., Chief Executive Officer of Alexion. The U.S. FDA Approves Gilead Sciences Antiviral Veklury® (remdesivir) for... 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We sought to determine whether alirocumab, a … If you continue to use this site we will assume that you are happy with it. Mr. Garland was formerly CEO of Portola Pharmaceuticals, which was acquired by Alexion in 2020 for $1.4 billion. Portola is now a wholly owned subsidiary of Alexion. Is There a Possible Comeback for Nektar Therapeutics? As the global leader in complement biology and inhibition for more than 20 years, Alexion has developed and commercializes two approved complement inhibitors to treat patients with paroxysmal nocturnal hemoglobinuria (PNH) and atypical hemolytic uremic syndrome (aHUS), as well as the first and only approved complement inhibitor to treat anti-acetylcholine receptor (AchR) antibody-positive generalized myasthenia gravis (gMG) and neuromyelitis optica spectrum disorder (NMOSD). As a result of the merger, Portola became a wholly owned subsidiary of Alexion. Imminent Announcements of Important Quarterly Results. Alexion Pharmaceuticals, Inc. (NASDAQ:ALXN) today announced the successful completion of its acquisition of Portola Pharmaceuticals, Inc. (NASDAQ:PTLA). Aveo Oncology: The FDA Approved FOTIVDA for Adults with Relapsed or Refractory Advanced RCC. © 2014 Prohost Biotech. Nektar Therapeutics YoYoing Stock Price Investors who exaggerate their enthusiasm, or their apathy, towards buying and … Trick or Trade. Alexion, though, has been dogged by a listless stock price. In connection with the merger, all shares of Portola common stock outstanding immediately prior to the effective time (other than shares owned by Alexion, Buyer, Portola, any other subsidiary of Alexion or any subsidiary of Portola, or shares that are held in Portola’s treasury, or shares held by any Portola stockholder who has properly demanded and perfected appraisal rights under Delaware law) have been converted into the right to receive $18.00 per share in cash, without interest (less any required withholding taxes), the same amount paid for all shares validly tendered and not validly withdrawn in the tender offer. Executive Director, Corporate Communications, Investors The most frequently reported adverse reactions in clinical trials in healthy subjects with Andexxa were mild or moderate infusion-related reactions comprising symptoms such as flushing and feeling hot (very common), and cough, dysgeusia, and dyspnea (common). This website is intended only for residents of the United States. As a result, a number of important factors could cause actual results to differ materially from those indicated by such forward-looking statements, including: the anticipated benefits of Andexxa and other Portola therapies not being realized, including the result of delays or failure to obtain regulatory approval and failure to attain sales targets; the phase 4 study regarding Andexxa does not meet its designated endpoints and/or is not deemed safe and effective by the Food and Drug Administration (the “FDA”) or other regulatory agencies (and commercial sales are prohibited or limited); future clinical trials of Portola products not proving that the therapies are safe and effective to the level required by regulators; anticipated Andexxa sales targets are not satisfied; Andexxa does not gain acceptance among physicians, payers and patients; the commercial efforts of Alexion do not result in increased sales of Andexxa; potential future competition by other Factor Xa inhibitor reversal agents (or other competitive therapies); decisions of regulatory authorities regarding the adequacy of the research and clinical tests, marketing approval or material limitations on the marketing of Portola products; delays or failure of product candidates or label extension of existing products to obtain regulatory approval; delays or the inability to launch product candidates (including products with label extensions) due to regulatory restrictions; unanticipated expenses; interruptions or failures in the manufacture and supply of products and product candidates; failure to satisfactorily address matters raised by the FDA and other regulatory agencies; the possibility that results of clinical trials are not predictive of safety and efficacy results of products in broader patient populations; the possibility that clinical trials of product candidates could be delayed or terminated prior to completion for a number of reasons; the adequacy of pharmacovigilance and drug safety reporting processes; the impact of the COVID-19 pandemic on Alexion’s business operations, including sales, clinical trials, operations and supply chain; and a variety of other risks set forth from time to time in Alexion's filings with the SEC, including but not limited to the risks discussed in Alexion's Quarterly Report on Form 10-Q for the quarter ended March 31, 2020 and in its other filings with the SEC. Short Sale — Selling a stock short is a way to make a profit while the stock price declines. Forward-looking statements are based on management’s current expectations, beliefs, estimates, projections and assumptions. Media 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, 2020. The Investor Relations website contains information about Alexion Pharmaceuticals, Inc.'s business for stockholders, potential investors, and financial analysts. 2, 2020-- Headquartered in Boston, Massachusetts, Alexion has offices around the globe and serves patients in more than 50 countries. It’s All About Common Sense: Intellia Therapeutics, The Reasons for the Immunome, Inc Stock Rally, A New COVID-19 Vaccine is Showing Successful Results. All of the conditions to the tender offer having been satisfied, Buyer has accepted for payment and will promptly pay for all shares tendered. This suggests a possible upside of 28.8% from the stock's current price. The SARS-CoV-2 Vaccines …, Prohost Letter #440 Coronavirus The Therapeutics Gilead’s Remdesivir Treating COVID-19 patients requires therapeutic products that can …, Prohost Letter #439 The Coronavirus Outbreak - COVID-19 The news announced that the coronavirus (now known …. 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View source version on businesswire.com: https://www.businesswire.com/news/home/20200702005276/en/, Alexion Contacts: This press release and further information about Alexion can be found at: www.alexion.com. Alexion Pharmaceuticals in its $1.4 billion acquisition of Portola Pharmaceuticals; ARIAD Pharmaceuticals in its $5.2 billion sale to Takeda Pharmaceutical Co. Biogen in the $5 billion spin-off of its global hemophilia business into a separate publicly traded company (Bioverativ) Bioverativ in its $11.6 billion sale to Sanofi 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, 2020. Abstract Background Patients who have had an acute coronary syndrome are at high risk for recurrent ischemic cardiovascular events. Its stock peaked at more than $200 in 2015, but took a hit amid an internal investigation into allegations of … BOSTON--(BUSINESS WIRE)--Jul. 8 equities research analysts have issued 1 year price targets for Lexicon Pharmaceuticals' stock. Alexion also has two highly innovative enzyme replacement therapies for patients with life-threatening and ultra-rare metabolic disorders, hypophosphatasia (HPP) and lysosomal acid lipase deficiency (LAL-D) as well as the first and only approved Factor Xa inhibitor reversal agent. On July 2, 2020, Alexion completed its acquisition of Portola through the merger of Buyer with and into Portola without a vote of Portola’s shareholders pursuant to Section 251(h) of the Delaware General Corporation Law. Gain free stock research access to stock picks, stock screeners, stock … The transaction will be funded with cash on hand. In addition, the depositary has advised Alexion that, as of the offer expiration time, Notices of Guaranteed Delivery had been delivered with respect to 2,701,052 additional shares, representing approximately 3.4% of the shares outstanding. Amongst bleeding patients, commonly reported side effects were ischemic stroke and pyrexia, with uncommon reported side effects of cerebral infarction, cerebrovascular accident, transient ischemic attack, acute myocardial infarction, cardiac arrest, myocardial infarction, deep vein thrombosis, iliac artery occlusion, pulmonary embolism. Andexxa® [coagulation factor Xa (recombinant), inactivated-zhzo] is a recombinant modified human factor Xa (FXa) protein indicated for patients treated with rivaroxaban or apixaban, when reversal of anticoagulation is needed due to life-threatening or uncontrolled bleeding. Find the latest stock market trends and activity today. Portola is now a wholly owned subsidiary of Alexion. © 2021 Alexion Pharmaceuticals, Inc. https://www.businesswire.com/news/home/20200702005276/en/. Alexion focuses its research efforts on novel molecules and targets in the complement cascade and its development efforts on the core therapeutic areas of hematology, nephrology, neurology, metabolic disorders and cardiology. Their forecasts range from $6.00 to $13.00. Compare key indexes, including Nasdaq Composite, Nasdaq-100, Dow Jones Industrial & more. In addition, the company is developing several mid-to-late-stage therapies, including a copper-binding agent for Wilson disease, an anti-neonatal Fc receptor (FcRn) antibody for rare Immunoglobulin G (IgG)-mediated diseases and an oral Factor D inhibitor as well as several early-stage therapies, including one for light chain (AL) amyloidosis, a second oral Factor D inhibitor and a third complement inhibitor. Megan Goulart, 857-338-8634 Please refer to full Prescribing Information for more information, including Boxed Warning, at www.Andexxa.com. We Wish You …, The Week in Review #47 What A Week For Biotechnology Synopsis In this “Week in Review” …, The Week in Review #46 The Quarterly Financial Results The quarterly financial results that analysts and …, Prohost Letter #444 The End of the Year Issue was delayed because our 2020 Prohost Portfolio …, Prohost Letter #443 The Biotechnology Industry The Biotechnology Industry revolutionized the arts of life sciences with …, Prohost Letter 442 The Whole World Against the Blind SARS-CoV-2 Virus Investors have no doubt profited …, Prohost Letter #441 Biotechnology Companies’ Evaluations Are We Saying Goodbye to Common Sense? This important medicine is also a clear strategic fit with our existing expertise in hematology and neurology, and we are confident we can apply our demonstrated global commercial excellence to enhance access and broaden the number of patients helped by Andexxa.”. 140, No. Alexion is a global biopharmaceutical company focused on serving patients and families affected by rare and devastating diseases through the discovery, development and commercialization of life-changing medicines. 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”). Join 800,000+ investors in-the-know and get a morning e-briefing on market developments, Zacks' Bull Stock of the Day, plus more.
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