Alexion rises after 10-Q clarifies accounting

Alexion Pharmaceuticals Inc. (NASDAQ:ALXN) gained $12.07 to $139.19 on Thursday after it filed a delayed 10-Q for 3Q16 and revealed that it would not need to restate previously issued financial results. The Audit and Finance Committee of Alexion's board did determine that some Soliris eculizumab revenues "pulled in" to 4Q15 from 1Q16 were the result of "employee actions that involved inappropriate business conduct," violating company policies and procedures.

Alexion said the pull-in sales are not "inherently problematic or impermissible," and said total 4Q15 pull-in sales represented less than 1% of total 2015 revenue. Still, the company plans to take "remedial actions" and to file an amended 10-K for 2015...