US based Alexion Pharmaceuticals (NASDAQ: ALXN) are set to buy Achillion (NASDAQ: ACHN) in a reported $930 million deal.

This will stampede Alexion’s dominance in the pharmaceuticals market for treating rare blood disorders.

Alexion has offered $6.30 per Achillion share, and including extra contingencies rise up to $8.30 per share.

Alexion faced a tough financial year in 2018, where several members of senior management resigned and a scandal involving sales practice of its top drug Soliris.

Soliris, Alexion’s flagship product is used to treat genetic disorders brought in in $3.56 billion revenue in sales last year, accounting for 86% total revenue.

Following the success of Soliris, Alexion have increase their medical portfolio by winning US approval for its successor Ultomiris.

Ludwig Hantson, Chief Executive Officer of Alexion commented “Alexion has demonstrated the transformative impact that inhibiting C5 can have on multiple rare and devastating diseases. However, we believe this is just the beginning of what’s possible with complement inhibition”

Hantson also added “Targeting a different part of the complement system – the alternative pathway – by inhibiting Factor D production addresses uncontrolled complement activation further upstream in the complement cascade, and importantly, leaves the rest of the complement system intact, which is critical in maintaining the body’s ability to fight infection. We believe this approach has the opportunity to help patients with diseases not currently addressed through C5 inhibition. We look forward to applying our nearly three decades of complement and development expertise to unlock the potential of oral Factor D inhibitors and bring these benefits to patients.”

As a result, shares of Achillion Pharmaceuticals rocketed during premarket Wednesday trading by 82%.

Today, Achillion has traded at $3.65 whilst Alexion saw a 3.42% increase trading at $104.81 16/10/19 13:40BST.

Despite a strong financial performance last year, shares of Alexion are low due to concerns about similar versions of Soliris being produced by competitors.

Joe Truit, President and Chief Executive Officer at Achillion said “We have established great momentum – discovering and advancing several small molecules into clinical development that have the potential to treat immune-related diseases associated with the alternative pathway of the complement system. Alexion is an established leader in developing medicines for complement-mediated diseases, and we look forward to working together to accelerate our objective of bringing novel therapies to patients as quickly as possible and ensuring that the broad promise of this approach is fully realized. We thank our employees, investigators and partners for their incredible work and commitment”

The immediate plan by Alexion to buy Achillion Pharmaceuticals will benefit shareholders of Achillion.

As shares are being offered at $6.30, this has the potential to rise very quickly if goals and objectives are met.

This will also add to the portfolio of Alexion and increase market dominance in treating rare blood disorders.

In the health sector, there have been updates to RA Pharmaceuticals Inc (NASDAQ: RARX), TekCapital (LON: TEK) and Yourgene Health Plc (LON:YGEN).