Why Alexion Makes Sense As A Target, But Amgen Doesn't As A Buyer

Spanish news site Intereconomia.com reported Thursday that Amgen could be nearing a deal to buy Alexion for $200 a share. Although the price tag makes sense, Amgen as a buyer doesn't, SVB Leerink analyst Geoffrey Porges said in a report to clients.

The top biotech company seems to be fully committed to oncology, neurology and immunology, Porges said. Alexion, on the other hand, specializes in rare diseases. Alexion is a rare asset with no competitive, regulatory, operational or manufacturing challenges in sight, he said.