Alexion Pharmaceuticals Inc.’s decision to make a pricey bet on a rare-disease drugmaker may eventually pay off for investors, even if they’re not giving it much love now.
The $31 billion maker of a treatment for rare-blood disorders agreed to buy Synageva BioPharma Corp. for about $230 a share, or a more than 120 percent premium. Alexion’s shares plunged as much as 11 percent as “some investors may be picking their jaws off the floor at such a valuation,” said Christopher Raymond, a Chicago-based analyst at Robert W. Baird & Co.
Hey, check out all the research scientist jobs. Post your resume today!
