Alexion Pharmaceuticals

Last updated
Alexion Pharmaceuticals, Inc.
Company type Subsidiary
Nasdaq: ALXN
Industry Pharmaceutical industry
Founded1992;32 years ago (1992)
FounderLeonard 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)
RevenueIncrease2.svg US$6.069 billion (2020)
Decrease2.svg US$603 million (2020)
Total assets Increase2.svg US$18.103 billion (2020)
Total equity Increase2.svg US$11.651 billion (2020)
Number of employees
2,525 (2020)
Parent AstraZeneca
Website www.alexion.com
Footnotes /references
[1]

Alexion Pharmaceuticals, Inc., a subsidiary of AstraZeneca, is a pharmaceutical company headquartered in Boston, Massachusetts that specializes in orphan drugs to treat rare diseases.

Contents

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]

History

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]

Acquisitions

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]

Acquisition history

The following is an illustration of the company's mergers, acquisitions, corporate spin-offs and historical predecessors:

Alexion Pharmaceuticals
(Founded 1992)

Proliferon Inc
(Acq 2000, restructured into Alexion Antibody Technologies Inc)

Enobia Pharma Corp
(Acq 2011)

Synageva
(Acq 2015)

Syntimmune
(Acq 2018)

Achillion Pharmaceuticals
(Acq 2019)

Alexion Pharmaceuticals

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References

  1. 1 2 "Alexion Pharmaceuticals 2020 Form 10-K Annual Report". U.S. Securities and Exchange Commission.
  2. ↑ Thomas, Katie; Abelson, Reed (August 25, 2019). "The $6 Million Drug Claim" . The New York Times .
  3. ↑ Herper, Matthew (September 5, 2012). "How A $440,000 Drug Is Turning Alexion Into Biotech's New Innovation Powerhouse". Forbes .
  4. 1 2 SINGER, STEPHEN (September 12, 2017). "Alexion Exits New Haven For Boston, Agrees To Repay Millions In State Aid". Hartford Courant .
  5. ↑ "Alexion Pharmaceuticals Moves Global Headquarters to New Haven". NBC News . June 19, 2012.
  6. ↑ MACMILLAN, THOMAS (June 19, 2012). "Alexion Flees Cheshire For New Haven". New Haven Independent .
  7. ↑ Seiffert, Don (May 6, 2015). "Everything you need to know about the $8.4B acquisition of Synageva". American City Business Journals .
  8. ↑ Lang, Michelle (June 20, 2011). "Alexion tests treatment to respond to Germany's E. coli outbreak". American City Business Journals .
  9. ↑ Reidy, Chris (January 13, 2014). "Alexion, Moderna announce agreement to develop messenger RNA therapeutics". The Boston Globe . Archived from the original on November 16, 2020.
  10. ↑ Garade, Damien (September 13, 2016). "Ego, ambition, and turmoil: Inside one of biotech's most secretive startups". Stat . Archived from the original on November 16, 2020.
  11. ↑ Garde, Damien (January 10, 2017). "Lavishly funded Moderna hits safety problems in bold bid to revolutionize medicine". Stat . Archived from the original on November 16, 2020.
  12. 1 2 Dulaney, Chelsey (May 6, 2015). "Alexion to Buy Synageva for $8.4 Billion" . The Wall Street Journal .
  13. 1 2 Cyran, Robert (May 6, 2015). "Alexion Puts Its Soaring Stock Price to Good Use" . The New York Times .
  14. ↑ "FDA Approves Strensiq™ (asfotase alfa) for Treatment of Patients with Perinatal-, Infantile- and Juvenile-Onset Hypophosphatasia (HPP)" (Press release). Business Wire. October 23, 2015.
  15. ↑ Helfand, Carly (July 18, 2016). "Teva wins controversial PhRMA bid despite protests from branded rivals". FiercePharma .
  16. ↑ "PhRMA Welcomes Five New Member Companies" (Press release). PR Newswire. July 15, 2016.
  17. ↑ Hathaway, Bill (February 29, 2016). "Alexion homecoming is a symbol of biomedical growth in New Haven". Yale University .
  18. ↑ "Alexion's Board of Directors Announces New Leadership Appointments" (Press release). Business Wire. December 12, 2016.
  19. ↑ Rosen, Jon (December 12, 2016). "Alexion Pharmaceuticals announces new leadership appointments". WTNH .
  20. ↑ Grover, Natalie (March 27, 2017). "Alexion Pharma names former Baxalta chief Ludwig Hantson CEO". Reuters .
  21. ↑ Hufford, Austen; Rockoff, Jonathan D.; De Avila, Joseph (September 12, 2017). "Alexion to Cut Workforce by 20%, Shift Headquarters to Boston" . The Wall Street Journal .
  22. ↑ Bramson, Kate (September 12, 2017). "Drug maker Alexion to close R.I. plant". The Providence Journal .
  23. ↑ Krause, Nancy (September 12, 2017). "Alexion closing RI manufacturing facility, 250 losing jobs". WPRI-TV .
  24. ↑ Tokar, Dylan; Prang, Allison (July 2, 2020). "Alexion to Pay More Than $21 Million to Settle Bribery Claims" . The Wall Street Journal .
  25. ↑ "SEC Charges Alexion Pharmaceuticals With FCPA Violations" (Press release). U.S. Securities and Exchange Commission. July 2, 2020.
  26. ↑ Higgins-Dunn, Noah (July 21, 2021). "AstraZeneca closes mega $39B Alexion buyout despite antitrust fears, making a splash in rare diseases". FiercePharma .
  27. ↑ "Acquisition of Alexion completed" (Press release). AstraZeneca. July 21, 2021.
  28. ↑ "BRIEFLY". Hartford Courant . September 27, 2000.
  29. ↑ Finn, Ryan (December 29, 2011). "Alexion to Pay as Much as $1.08 Billion to Buy Enobia Pharma" . Bloomberg News .
  30. ↑ "Alexion Completes Acquisition of Synageva" (Press release). Business Wire. June 23, 2015.
  31. ↑ Weisman, Robert (July 12, 2015). "How Genzyme became a source of biotech executives". The Boston Globe .
  32. ↑ Seiffert, Don (June 23, 2015). "Alexion buys Lexington rare drug maker Synageva for $8.4B". American City Business Journals .
  33. ↑ "Large Pharma Acquisition -- Alexion Buys Synageva for $8.4 Billion". IndustryWeek . Agence France-Presse. May 6, 2015.
  34. ↑ Hirschler, Ben (April 11, 2018). "Biotech M&A rolls on as Alexion snaps up Wilson for $855 million". Reuters .
  35. ↑ Arnott, Karen (April 11, 2018). "Alexion to Acquire Wilson Therapeutics for $855M". Mary Ann Liebert .
  36. ↑ "Alexion Completes Acquisition of Syntimmune" (Press release). Business Wire. November 2, 2018.
  37. ↑ "Alexion to Acquire Syntimmune for Up to $1.2B, Expanding Rare Disease Pipeline". Mary Ann Liebert . September 26, 2018.
  38. ↑ Joseph, Saumya Sibi; Maddipatla, Manogna (September 26, 2018). "Alexion to buy biotech firm Syntimmune for up to $1.2 billion". Reuters .
  39. ↑ "Alexion Completes Acquisition of Achillion" (Press release). Business Wire. January 28, 2020.
  40. ↑ George, John (January 29, 2020). "$930 million sale of Blue Bell biopharma firm finalized". American City Business Journals .
  41. ↑ Taylor, Nick Paul (October 16, 2019). "Alexion inks deal to acquire Achillion for $930M upfront". FierceBiotech .
  42. ↑ "Alexion Completes Acquisition of Portola" (Press release). Business Wire. July 2, 2020.
  43. ↑ DeAngelis, Allison (May 5, 2020). "Alexion pays $1.4B for Bay Area biotech in bid to double commercial portfolio". American City Business Journals .
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