Alexion shares slashed by Brazilian police raid

9 May 2017

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.

This article is accessible to registered users, to continue reading please register for free. A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user please login. If your trial has come to an end, you can subscribe here.

Try before you buy

Free

7 day trial access

Take a Free Trial

All the news that moves the needle in pharma and biotech
Exclusive features, podcasts, interviews, data analyses and commentary from our global network of life sciences reporters.
Receive The Pharma Letter daily news bulletin, free forever.

Become a subscriber

£820

Or £77 per month

Subscribe Now

Unfettered access to industry-leading news, commentary and analysis in pharma and biotech.
Updates from clinical trials, conferences, M&A, licensing, financing, regulation, patents & legal, executive appointments, commercial strategy and financial results.
Daily roundup of key events in pharma and biotech.
Monthly in-depth briefings on Boardroom appointments and M&A news.
Choose from a cost-effective annual package or a flexible monthly subscription

The Pharma Letter is an extremely useful and valuable Life Sciences service that brings together a daily update on performance people and products. It’s part of the key information for keeping me informed

Chairman, Sanofi Aventis UK