Alexion Announces $500 Million Share Repurchase Program
December 15 2014 - 6:30AM
Business Wire
Alexion Pharmaceuticals, Inc. (NASDAQ:ALXN) today announced that
the Company’s Board of Directors has authorized a new share
repurchase program of up to $500 million. The new share repurchase
program will take effect upon completion of the Company’s current
program, which has approximately $22 million remaining of its
previously authorized $400 million.
Under the program, purchases may be made from time to time on
the open market, including through10b5-1 trading plans, or through
privately negotiated transactions, block transactions, or other
techniques, as determined by the Company’s management and in
accordance with prevailing market conditions and the requirements
of the Securities and Exchange Commission. Alexion expects to fund
all purchases from cash on hand and future cash flows from
operations. The Board’s authorization is open-ended and does not
establish a timeframe for the purchases. The Company is not
obligated to acquire a particular number of shares, and the program
may be discontinued at any time at the Company’s discretion.
About Alexion
Alexion is a biopharmaceutical company focused on serving
patients with severe and rare disorders through the innovation,
development and commercialization of life-transforming therapeutic
products. Alexion is the global leader in complement inhibition and
has developed and markets Soliris® (eculizumab) as a treatment for
patients with paroxysmal nocturnal hemoglobinuria (PNH) and
atypical hemolytic uremic syndrome (aHUS), two debilitating,
ultra-rare and life-threatening disorders caused by chronic
uncontrolled complement activation. Soliris is currently approved
in nearly 50 countries for the treatment of PNH and in nearly 40
countries for the treatment of aHUS. Alexion is evaluating other
potential indications for Soliris in additional severe and
ultra-rare disorders beyond PNH and aHUS, and is developing other
highly innovative biotechnology product candidates, including
asfotase alfa, across multiple therapeutic areas. This press
release and further information about Alexion can be found at:
www.alexionpharma.com.
[ALXN-G]
Safe Harbor Statement
This news release contains forward-looking statements, including
statements related to the funding, timing and scope of the
Company's stock repurchase program. Forward-looking statements are
subject to factors that may cause Alexion's results and plans to
differ from those expected, including for example, then current
market conditions, anticipated cash flow and a variety of other
factors and risks set forth from time to time in Alexion's filings
with the US Securities and Exchange Commission, including but not
limited to the risks discussed in Alexion's Quarterly Report on
Form 10-Q for the period ended September 30, 2014 and in our other
filings with the US Securities and Exchange Commission. Alexion
does not intend to update any of these forward-looking statements
to reflect events or circumstances after the date hereof, except
when a duty arises under law.
Alexion:MediaIrving Adler, 203-271-8210Executive Director,
Corporate CommunicationsorKim Diamond, 203-439-9600Senior Director,
Corporate CommunicationsorInvestorsElena Ridloff, CFA,
203-699-7722Executive Director, Investor Relations
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