BioCentury
ARTICLE | Company News

Top Alexion execs leave as investigation continues

December 13, 2016 1:15 AM UTC

Rare disease company Alexion Inc. (NASDAQ:ALXN) lost $16.99 (13%) to $115.08 on Monday after it said CEO David Hallal and CFO Vikas Sinha have left the company. The moves come as Alexion continues to investigate a former employee’s allegations that company personnel engaged in sales practices for Soliris eculizumab that were "inconsistent" with Alexion's policies. The issues came to light after market close on Nov. 9, when Alexion said it would delay its 3Q16 quarterly filing during the investigation (see BioCentury Extra, Nov. 11).

Alexion said that thus far, it "has not identified any facts" that would require it to update previously reported financial results. It is continuing to investigate the issues...

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