AstraZeneca topped off a very busy week with its first-quarter financial report, citing a total of $11.390 billion in revenue, a whopping increase of 60%. That was driven by the acquisition of Alexion and several contracts for Vaxzevria, its COVID-19 vaccine developed with the University of Oxford.
The company also announced plans to open a new location in Cambridge, Massachusetts. This site will act as a strategic R&D center for the company in addition to being Alexion’s new corporate headquarters. It will house about 1,500 R&D, commercial and corporate staffers into a “single purpose-built space in Kendall Square, Cambridge, MA.”
AstraZeneca closed its deal with Alexion in 2021, acquiring the company for $39 billion. AstraZeneca’s focus has typically been on oncology, cardiovascular, renal and metabolism and respiratory diseases. But Alexion focuses on complement inhibition, which is associated with immune-mediated rare diseases, which has been an increasing interest of AstraZeneca’s.
Alexion’s branded products include Soliris (eculizumab) approved for paroxysmal hemoglobinuria (PNH), atypical hemolytic uremic syndrome, generalized myasthenia gravis and neuromyelitis optica spectrum disorder. Another branded product includes Ultomiris (ravulizumab), a second-generation C5 monoclonal antibody.