London — AstraZeneca, one of the drugmakers leading the fight against Covid-19, highlighted where its growth will come from after the pandemic with a $39bn deal for rare-disease specialist Alexion Pharmaceuticals.

The proposed cash-and-stock acquisition will add treatments for uncommon blood and immunological disorders to the portfolio of Cambridge, UK-based AstraZeneca, which had spent years paring away older and less profitable products to focus on cancer...

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