Alexion Pharmaceuticals, a subsidiary of AstraZeneca, is a pharmaceutical company headquartered in Boston, Massachusetts that specializes in orphan drugs to treat rare diseases.
Company type | Subsidiary |
---|---|
Nasdaq: ALXN | |
Industry | Pharmaceutical industry |
Founded | 1992 |
Founder | Leonard Bell |
Headquarters | Boston, Massachusetts, U.S. |
Key people | Leonard Bell (Chairman) Ludwig N. Hantson (CEO) |
Products | Eculizumab (Soliris) Ravulizumab (Ultomiris) Asfotase alfa (Strensiq) Sebelipase alfa (Kanuma) Andexanet alfa (Andexxa) |
Revenue | US$6.069 billion (2020) |
US$603 million (2020) | |
Total assets | US$18.103 billion (2020) |
Total equity | US$11.651 billion (2020) |
Number of employees | 2,525 (2020) |
Parent | AstraZeneca |
Website | www |
Footnotes / references [1] |
Its products include eculizumab (Soliris) and ravulizumab (Ultomiris), both used to treat the rare disorders of atypical hemolytic uremic syndrome (aHUS) and paroxysmal nocturnal hemoglobinuria (PNH); asfotase alfa (Strensiq), used to treat hypophosphatasia; sebelipase alfa (Kanuma), used to treat lysosomal acid lipase deficiency, and andexanet alfa (Andexxa), used to stop life threatening or uncontrollable bleeding in people who are taking rivaroxaban or apixaban.[1]
With costs that can reach as much as $2 million per year, the drugs manufactured by Alexion are some of the most expensive drugs worldwide.[2]
Alexion Pharmaceuticals was founded in 1992 at Science Park in New Haven, Connecticut by Steven Squinto and Leonard Bell, a physician at Yale New Haven Hospital and assistant professor of medicine and pathology at Yale School of Medicine.[3][4]
In 2000, Alexion moved its headquarters from New Haven to Cheshire, Connecticut.[5][6]
Alexion received U.S. Food and Drug Administration (FDA) approval for Soliris in 2007. It was initially approved to treat paroxysmal nocturnal hemoglobinuria, a rare blood disorder.[7]
In June 2010, there was an outbreak of hemolytic–uremic syndrome caused by shigatoxigenic and verotoxigenic Escherichia coli (EHEC) in Germany. Soliris was tested as a treatment option because of its effectiveness in treating atypical hemolytic uremic syndrome, an illness similar to that caused by the EHEC infection.[8]
In January 2014, the company paid Moderna $100 million for ten product options to develop rare disease treatments, including for Crigler–Najjar syndrome, using Moderna's mRNA therapeutics platform;[9] however, the program was scrapped in January 2017 after animal trials showed that Moderna's treatment would never be safe enough for humans.[10][11]
In April 2015, Bell was replaced as CEO by David Hallal.[12][13]
In October 2015, Alexion's second drug, Strensiq (asfotase alfa), was approved by the Food and Drug Administration. It is used to treat hypophosphatasia, a rare metabolic disorder.[14]
In 2016, the company became a member of the Pharmaceutical Research and Manufacturers of America (PhRMA).[15][16]
Alexion moved its headquarters back to New Haven following the completion of New Haven's Downtown Crossing project in February 2016.[17]
In December 2016, David Brennan became interim CEO. David Anderson, formerly the CFO of Honeywell, was appointed CFO, replacing Vikas Sinha.[18][19]
In March 2017, Alexion named Ludwig N. Hantson as its CEO.[20]
In September 2017, Alexion announced it would cut its workforce by 20% and move its headquarters to Boston, Massachusetts in mid-2018.[4][21] It also announced the closure of its manufacturing facility in Smithfield, Rhode Island.[22][23]
In July 2020, the company agreed to pay more than $21 million to settle claims that it bribed government officials in Turkey and Russia to gain approval for its drugs.[24][25]
In July 2021, AstraZeneca acquired the company.[26][27]
In September 2000, Alexion acquired Proliferon, a development-stage biopharmaceutical firm, for $41 million in stock. The company was renamed Alexion Antibody Technologies.[28]
In December 2011, Alexion acquired Montreal-based Enobia Pharma, the developer of asfotase alfa, a drug used to treat the genetic disorder hypophosphatasia, for as much as $1.08 billion.[29]
In June 2015, Alexion acquired Synageva, a maker of rare disease treatments, in an $8.4 billion stock-and-cash deal.[12][30][31][13][32][33]
In April 2018, Alexion announced the acquisition of Wilson Therapeutics for $855 million.[34][35]
In November 2018, the company acquired Syntimmune for $1.2 billion, expanding its rare disease offerings.[36][37][38]
In January 2020, the company acquired Achillion Pharmaceuticals for $930 million, boosting its immune system disease pipeline.[39][40][41]
In July 2020, Alexion acquired Portola Pharmaceuticals, diversifying its hematology, neurology, and critical care commercial portfolio with Portola's Factor Xa inhibitor reversal agent.[42][43]
The following is an illustration of the company's mergers, acquisitions, corporate spin-offs and historical predecessors:
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