Alexion Pharmaceuticals, Inc.
|Company Name||Alexion Pharmaceuticals, Inc.|
On May 8, 2017 Alexion’s Sao Paulo offices were raided as part of an investigation into the Company’s business practices. According to law enforcement officials, Alexion may be involved in a scheme wherein the Company, with the aid of a local patient association, subsidized lawsuits for patients to get access to the Company’s drug via Brazil’s national health system. On this news, shares of Alexion have fell over 4% on May 8, 2017.
On May 17, 2017, the Company’s CEO confirmed the Sao Paulo raid on Alexion’s offices and informed investors that the Company is reviewing its spending and compliance practices. On this news shares of Alexion fell $4.15 per share, or over 3%, to close on May 17, 2017 at $116.15 per share.
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