Alexion shares slashed by Brazilian police raid
US drugmaker Alexion Pharmaceuticals (Nasdaq: ALXN) took a 3.4% hit to its share price on Monday, reducing its value to $124.48, after news that Brazilian police had raided the firm's Sao Paolo offices in a sales practices probe.
According to Bloomberg, police are investigating whether the company was involved, with the help of a patient association, in paying for lawsuits for patients to get access to the company’s lead drug Soliris (eculizumab) through the national health system.
This drug is used to treat paroxysmal nocturnal hemoglobinuria and atypical hemolytic uremic syndrome, two rare blood conditions.
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