Alexion Pharmaceuticals and Synageva BioPharma Corp. report they have entered into a definitive agreement pursuant to which Alexion will acquire Synagev. The transaction is valued at approximately $8.4 billion net of Synageva’s cash.

“Synageva is an ideal strategic and operational fit for Alexion that aligns with what we know well and do well — providing life-transforming therapies to an increasing number of patients with devastating and rare diseases,” said David Hallal, Chief Executive Officer of Alexion. “With strong ongoing Soliris growth in PNH and aHUS worldwide, and the anticipated 2015 global launches of Strensiq and Kanuma, we will accelerate and diversify our revenue growth.”