The M&A season in pharma clearly isn’t going to lose momentum: Yesterday it was the turn of US-based biotech Alexion Pharmaceuticals, which announced the acquisition of biotech Syntimmune for $1.2bn. The acquisition gives Alexion access to Syntimmune’s rich rare disease pipeline. As part of the agreement, Alexion will make an immediate $400m payment, followed by additional payments of up to $800m, based on successful completion of precise milestones. Alexion has been frequently pursuing M&A over the last few months: indeed, it acquired Sweden-based Wilson Therapeutics AB for $855m in April. Alexion’s shares have soon reacted to the news by rising over 5% (Nasdaq).