Alexion Pharmaceuticals
| Company type | Subsidiary |
|---|---|
| Industry | Pharmaceutical |
| Founded | 1992 in New Haven, Connecticut, United States |
| Founder | Leonard Bell, Steven Squinto |
| Headquarters | Boston, Massachusetts , United States |
Area served | Worldwide |
Key people | Ludwig N. Hantson (CEO) |
| Products | Eculizumab (Soliris), Ravulizumab (Ultomiris), Asfotase alfa (Strensiq), Sebelipase alfa (Kanuma), Andexanet alfa (Andexxa) |
| Parent | AstraZeneca |
Alexion Pharmaceuticals, Inc., operating as a subsidiary of AstraZeneca, is a pharmaceutical firm based in Boston, Massachusetts that focuses on developing orphan drugs targeting rare diseases.
Among its principal medications are eculizumab (Soliris) and ravulizumab (Ultomiris), which address uncommon conditions such as atypical hemolytic uremic syndrome (aHUS) and paroxysmal nocturnal hemoglobinuria (PNH). The company also produces asfotase alfa (Strensiq) for hypophosphatasia, sebelipase alfa (Kanuma) for lysosomal acid lipase deficiency, and andexanet alfa (Andexxa), used to reverse severe bleeding in patients treated with anticoagulants like rivaroxaban or apixaban. These therapies are among the costliest globally, with yearly prices reaching up to $2 million.
History
Established in 1992 at Science Park, New Haven, Connecticut, by Leonard Bell and Steven Squinto, Alexion initially set up its headquarters in New Haven before moving to Cheshire, Connecticut in 2000.
The company's breakthrough came in 2007 when the FDA approved Soliris, originally indicated for paroxysmal nocturnal hemoglobinuria. Subsequently, during a 2010 outbreak of hemolytic–uremic syndrome in Germany, Soliris was evaluated for its effectiveness against aHUS.
In 2014, Alexion committed $100 million to explore rare disease therapies using Moderna's mRNA technology platform; however, this initiative was discontinued in 2017 due to emerging safety issues.
Leadership transitions included David Hallal succeeding Bell as CEO in 2015, followed by interim CEO David Brennan and CFO David Anderson taking roles in late 2016. Ludwig N. Hantson assumed the CEO position in March 2017.
As part of strategic restructuring in 2018, Alexion announced a 20% reduction in its workforce, relocated its headquarters to Boston, and shut down its manufacturing site in Smithfield, Rhode Island.
In July 2020, the company resolved bribery allegations by agreeing to a $21 million settlement concerning regulatory approvals in Turkey and Russia.
The acquisition by AstraZeneca was finalized in July 2021 at a valuation of $39 billion, markedly broadening AstraZeneca’s presence within the rare disease sector.
Acquisitions
In September 2000, Alexion acquired Proliferon, a biopharmaceutical company in development stages, for $41 million paid in stock and rebranded it as Alexion Antibody Technologies.
December 2011 saw Alexion purchase Enobia Pharma, headquartered in Montreal and known for developing asfotase alfa to treat hypophosphatasia, for up to $1.08 billion.
In June 2015, Alexion broadened its rare disease portfolio by acquiring Synageva through an $8.4 billion transaction involving both stock and cash.
April 2018 marked the acquisition of Wilson Therapeutics for $855 million, further enhancing the company’s pipeline focused on rare diseases.
Later that year, in November 2018, Alexion expanded its rare disease capabilities by acquiring Syntimmune for $1.2 billion.
In January 2020, Alexion strengthened its immune system disease assets by purchasing Achillion Pharmaceuticals for $930 million.
July 2020 brought diversification into hematology, neurology, and critical care via the $1.4 billion acquisition of Portola Pharmaceuticals, adding Portola's Factor Xa inhibitor reversal agent to its product lineup.
Acquisition history
The company's expansion approach has involved significant mergers and acquisitions that have broadened its range of products and enhanced its market footprint:
- Alexion Pharmaceuticals (Established 1992)
- Proliferon Inc (Purchased 2000; later reorganized as Alexion Antibody Technologies Inc)
- Enobia Pharma Corp (Purchased 2011)
- Synageva (Purchased 2015)
- Wilson Therapeutics (Purchased 2018)
- Syntimmune (Purchased 2018)
- Achillion Pharmaceuticals (Purchased 2019)
- Portola Pharmaceuticals (Purchased 2020)
Through these strategic acquisitions, Alexion bolstered its position in the specialty pharmaceutical sector and expanded its international operations.