Alexion Pharmaceuticals

Alexion Pharmaceuticals is a biopharmaceutical company focused on medicines for rare and life-threatening diseases. Founded in 1992 by Steven Squinto and Leonard Bell in New Haven, Connecticut, the company built its identity around complement biology, immunology, and the development of treatments for conditions with small patient populations and substantial unmet medical need. Its commercial portfolio has included medicines for paroxysmal nocturnal hemoglobinuria, atypical hemolytic uremic syndrome, hypophosphatasia, lysosomal acid lipase deficiency, and life-threatening bleeding associated with certain anticoagulants. The company’s defining product has been eculizumab, marketed as Soliris. Approved by the U.S. Food and Drug Administration in 2007 for paroxysmal nocturnal hemoglobinuria, Soliris became a foundational treatment for disorders involving uncontrolled activation of the complement system. Its indications subsequently included atypical hemolytic uremic syndrome. The product’s high clinical value, rarity of the diseases treated, and pricing structure made Alexion one of the best-known examples of the commercial orphan-drug model. Public descriptions of the company have noted that annual treatment costs for some patients could reach exceptionally high levels, contributing to continuing debate over access, reimbursement, and pricing of rare-disease medicines. Alexion expanded beyond Soliris through internal development and acquisitions. Enobia Pharma brought asfotase alfa, later marketed as Strensiq, for hypophosphatasia. The acquisition of Synageva added sebelipase alfa, marketed as Kanuma, for lysosomal acid lipase deficiency. Later transactions added programs and products in immunology, hematology, neurology, and critical care, including andexanet alfa, marketed as Andexxa, a reversal agent intended to help stop life-threatening or uncontrolled bleeding in patients taking rivaroxaban or apixaban. Alexion also developed ravulizumab, marketed as Ultomiris, a longer-acting complement inhibitor that extended the company’s franchise beyond Soliris. Corporate development was a major part of Alexion’s history. The company acquired Proliferon in 2000 and renamed it Alexion Antibody Technologies. It bought Enobia in 2011, Synageva in 2015, Wilson Therapeutics and Syntimmune in 2018, Achillion Pharmaceuticals in 2020, and Portola Pharmaceuticals later in 2020. These transactions broadened its research capabilities, rare-disease pipeline, and commercial portfolio. Alexion also entered a collaboration with Moderna in 2014 involving options for rare-disease programs based on messenger-RNA technology, although the program was discontinued in 2017 after preclinical work did not support further development. The company experienced significant leadership and organizational changes during the 2010s. Leonard Bell was replaced as chief executive by David Hallal in 2015; David Brennan served as interim chief executive in 2016, followed by Ludwig N. Hantson in 2017. In 2017 Alexion announced a workforce reduction, the closure of its Smithfield, Rhode Island manufacturing facility, and a headquarters move to Boston. In 2020 it agreed to pay more than $21 million to resolve allegations concerning improper payments involving officials in Turkey and Russia. AstraZeneca agreed to acquire Alexion in 2020, completing the transaction in July 2021 for approximately $39 billion. Alexion now functions as AstraZeneca’s rare-disease business, retaining a distinct scientific and commercial identity within the larger pharmaceutical group.

Alexion Pharmaceuticals was established in 1992 at Science Park in New Haven, Connecticut, by Steven Squinto and Leonard Bell. Bell was a physician associated with Yale New Haven Hospital and an assistant professor at Yale School of Medicine. From its beginning, Alexion concentrated on antibody technologies and diseases involving dysregulated immune responses, an orientation that later developed into a leading commercial focus on complement inhibition and rare diseases. In 2000, Alexion moved its headquarters from New Haven to Cheshire, Connecticut, and acquired Proliferon, a development-stage biopharmaceutical company, for stock valued at approximately $41 million. Proliferon was renamed Alexion Antibody Technologies, reinforcing the company’s interest in antibody discovery and development. Alexion’s major commercial breakthrough came in 2007, when the FDA approved Soliris, or eculizumab, for paroxysmal nocturnal hemoglobinuria. The medicine targeted terminal complement activity and addressed a condition for which effective treatment options had been limited. Its use was later expanded to atypical hemolytic uremic syndrome. The company grew through a combination of product development, licensing, partnerships, and acquisitions. In 2011 it acquired Montreal-based Enobia Pharma for approximately $1.08 billion, obtaining asfotase alfa. The product was developed for hypophosphatasia and later approved as Strensiq. In 2014 Alexion paid Moderna $100 million for options relating to ten potential rare-disease products using Moderna’s messenger-RNA technology. The program was abandoned in 2017 after animal studies did not indicate that the proposed treatment approach could be made sufficiently safe for human use. In 2015 Alexion acquired Synageva in a transaction valued at approximately $8.4 billion in cash and stock. Synageva added sebelipase alfa, later marketed as Kanuma, for lysosomal acid lipase deficiency. That year also brought a leadership transition: David Hallal replaced Bell as chief executive, and the FDA approved Strensiq for hypophosphatasia. Alexion joined the Pharmaceutical Research and Manufacturers of America in 2016. During the same period, it moved its headquarters back to New Haven after completion of the Downtown Crossing project. David Brennan became interim chief executive in December 2016, while David Anderson, formerly of Honeywell, became chief financial officer in place of Vikas Sinha. Ludwig N. Hantson was appointed chief executive in March 2017. Alexion announced a major restructuring in September 2017. The plan included a workforce reduction of approximately 20 percent, the closure of its manufacturing facility in Smithfield, Rhode Island, and relocation of the corporate headquarters to Boston in 2018. The company continued to expand its rare-disease pipeline through acquisitions. In 2018 it announced the purchase of Wilson Therapeutics for approximately $855 million and acquired Syntimmune for approximately $1.2 billion. In January 2020 it acquired Achillion Pharmaceuticals for approximately $930 million, adding immune-system research assets. In July 2020 it bought Portola Pharmaceuticals, broadening its portfolio into hematology, neurology, and critical care through products including Andexxa, a reversal agent for certain Factor Xa anticoagulants. Alexion also faced regulatory and reputational challenges. In 2020 it agreed to pay more than $21 million to resolve allegations that employees or representatives had bribed officials in Turkey and Russia to obtain or support regulatory approvals for Alexion medicines. The matter became one of the company’s most significant compliance controversies. AstraZeneca announced its agreement to purchase Alexion in 2020. The transaction, valued at approximately $39 billion, was completed in July 2021. Following completion, Alexion became AstraZeneca’s rare-disease business. Its principal commercial heritage remains centered on Soliris and the longer-acting complement inhibitor Ultomiris, while Strensiq, Kanuma, and Andexxa represent the company’s expansion into metabolic disease and critical care. As part of AstraZeneca, Alexion continues to operate as a specialist rare-disease organization rather than as an independent public pharmaceutical company.

1. 2021AstraZeneca acquisition closes

   Alexion becomes part of AstraZeneca after completion of the approximately $39 billion acquisition.

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2. 2020Achillion and Portola acquisitions

   Alexion adds immune-system pipeline assets through Achillion and a commercial hematology and critical-care portfolio through Portola.

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3. 2018Wilson Therapeutics and Syntimmune acquisitions

   The company expands its rare-disease and immunology pipeline through two acquisitions.

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4. 2017Restructuring and Boston relocation announced

   Alexion announces workforce reductions, a Smithfield facility closure, and a headquarters move to Boston.

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5. 2015Synageva is acquired and Strensiq is approved

   Alexion acquires Synageva and receives FDA approval for Strensiq for hypophosphatasia.

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6. 2011Enobia Pharma is acquired

   Alexion acquires Enobia Pharma and obtains the asfotase alfa program for hypophosphatasia.

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7. 2007Soliris receives FDA approval

   Eculizumab is approved in the United States for paroxysmal nocturnal hemoglobinuria.

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8. 2000Headquarters move and Proliferon acquisition

   Alexion moves its headquarters to Cheshire, Connecticut, and acquires Proliferon, later renaming it Alexion Antibody Technologies.

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9. 1992Alexion is founded in New Haven

   Steven Squinto and Leonard Bell establish Alexion Pharmaceuticals at Science Park in New Haven, Connecticut.

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A specialist rare-disease biopharmaceutical company focused on complement-mediated disorders, metabolic diseases, and other conditions with high unmet medical need. Its historical positioning combines highly targeted therapies, orphan-drug expertise, and premium-value medicines for small patient populations.

• SolirisComplement inhibitor2007

  Soliris is the brand name for eculizumab, a monoclonal antibody that inhibits terminal complement activation. It was Alexion’s first major commercial product and was initially approved for paroxysmal nocturnal hemoglobinuria. Its use was subsequently associated with atypical hemolytic uremic syndrome. Soliris became central to Alexion’s rare-disease identity and is widely associated with the company’s high-value orphan-drug business model.

• UltomirisLong-acting complement inhibitor

  Ultomiris is the brand name for ravulizumab, a longer-acting complement inhibitor developed to extend the therapeutic franchise established by Soliris. It is used in rare complement-mediated disorders, including paroxysmal nocturnal hemoglobinuria and atypical hemolytic uremic syndrome. Its longer dosing interval was intended to reduce treatment frequency while preserving targeted complement inhibition.

• StrensiqMetabolic enzyme therapy2015

  Strensiq is the brand name for asfotase alfa, a therapy for hypophosphatasia, an inherited metabolic disorder affecting bone mineralization and other physiological processes. Alexion obtained the underlying program through its acquisition of Enobia Pharma. FDA approval in 2015 marked a significant expansion beyond complement-mediated hematological and renal diseases.

• KanumaEnzyme replacement therapy

  Kanuma is the brand name for sebelipase alfa, a treatment for lysosomal acid lipase deficiency, a rare inherited disorder involving lipid metabolism. The product entered Alexion’s portfolio through the acquisition of Synageva Pharmaceuticals and broadened the company’s focus into another area of rare metabolic disease.

• AndexxaAnticoagulant reversal agent

  Andexxa is the brand name for andexanet alfa, a recombinant modified factor Xa protein intended to reverse the anticoagulant effects of rivaroxaban and apixaban in patients experiencing life-threatening or uncontrolled bleeding. Alexion obtained the product through its acquisition of Portola Pharmaceuticals, adding a critical-care and hospital-focused medicine to its historically rare-disease-centered portfolio.

• 2020Agreement to be acquired by AstraZenecaM&A

  Alexion had developed a specialized rare-disease portfolio and pipeline that complemented AstraZeneca’s broader pharmaceutical operations.

  What changed. AstraZeneca agreed to acquire Alexion for approximately $39 billion.

  Aftermath. The transaction closed in July 2021, and Alexion became AstraZeneca’s rare-disease business.

  Transaction value. Approximately $39 billion (2020 agreement; completed July 2021)

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• 2017Restructuring and headquarters relocationStrategy

  Alexion pursued organizational simplification and cost reduction amid changes in leadership and the need to focus resources on its rare-disease portfolio.

  What changed. The company announced a workforce reduction of approximately 20 percent, closure of the Smithfield manufacturing site, and relocation of headquarters to Boston.

  Aftermath. The measures reshaped the company’s operating footprint and preceded further portfolio expansion through acquisitions.

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• 2014Rare-disease mRNA collaboration with ModernaOther

  Alexion sought to explore messenger-RNA technology as a platform for developing treatments for rare inherited diseases.

  What changed. The company paid Moderna $100 million for options covering ten potential rare-disease products.

  Aftermath. The program was discontinued in 2017 after animal studies did not support a sufficiently safe path to human development.

  Option and collaboration payment. $100 million (2014)

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• 2020Foreign bribery settlement involving Turkey and RussiaControversy

  Alexion agreed to pay more than $21 million to resolve allegations that improper payments to government officials in Turkey and Russia were used to obtain or support approvals for its medicines.

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• 2021AstraZeneca completes acquisition of Alexion

  The acquisition closed in July 2021, making Alexion part of AstraZeneca’s rare-disease business.

  M&A
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• 2020Alexion acquires Achillion Pharmaceuticals

  The acquisition strengthened Alexion’s immune-system disease pipeline.

  M&A
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• 2020Alexion acquires Portola Pharmaceuticals

  The transaction diversified Alexion’s commercial presence into hematology, neurology, and critical care, including the Factor Xa inhibitor reversal product Andexxa.

  M&A
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• 2020AstraZeneca agrees to acquire Alexion

  AstraZeneca announced an agreement to acquire Alexion in a transaction valued at approximately $39 billion.

  M&A
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• 2018Alexion acquires Wilson Therapeutics

  The acquisition was intended to broaden Alexion’s rare-disease development portfolio.

  M&A
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• 2018Alexion acquires Syntimmune

  The transaction added an immunology-focused development platform and pipeline assets.

  M&A
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• 2017Alexion ends its Moderna mRNA rare-disease program

  The collaboration was discontinued after animal studies failed to establish a sufficiently safe path toward human development.

  Other
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• 2017Alexion announces workforce reduction and Boston headquarters move

  The company announced a workforce reduction of approximately 20 percent, the closure of its Smithfield facility, and a move to Boston.

  Other
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• 2015Leonard Bell is replaced as chief executive

  David Hallal succeeded co-founder Leonard Bell as chief executive.

  Leadership change
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• 2015Alexion acquires Synageva

  The transaction expanded Alexion’s metabolic rare-disease portfolio and added the Kanuma program.

  M&A
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• 2015Strensiq receives FDA approval

  Asfotase alfa was approved for hypophosphatasia, a rare inherited metabolic disorder.

  Product launch
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• 2014Alexion enters Moderna rare-disease collaboration

  Alexion paid Moderna for options covering ten potential rare-disease products using an mRNA-based platform.

  Other
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• 2011Alexion acquires Enobia Pharma

  The acquisition added asfotase alfa, subsequently marketed as Strensiq, to Alexion’s rare-disease portfolio.

  M&A
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• 2010Soliris investigated during the 2010 German hemolytic-uremic syndrome outbreak

  Soliris was examined as a possible treatment during an outbreak associated with Shiga-toxin-producing E. coli infections because of its relevance to complement-mediated atypical hemolytic uremic syndrome.

  Other
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• 2007Alexion receives FDA approval for Soliris

  The FDA approved eculizumab, marketed as Soliris, initially for paroxysmal nocturnal hemoglobinuria.

  Product launch
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1. Alexion Pharmaceuticals