Pfizer Inc is acquiring Alexion Pharma Inc for $1.4 billion.
The deal includes the sale of a minority stake in Alexion to Pfizer, which will focus on the growth of the company’s core business.
Pfizer also will retain a minority interest in the company.
Pfizer also plans to acquire other business assets.
The company expects to complete the acquisition by the end of 2020.
Alexion, based in Los Angeles, has focused on cancer drug development.
The acquisition will help Pfizer become a leader in the field.