A Big Q4 For Alexion Pharmaceuticals Stock Price Following Major Developments
Alexion Pharmaceuticals, Inc. (ALXN) reported just before year-end that the Company had completed the rolling submission of a Biologics License Application to the US FDA (Food & Drug Administration) for it’s investigational enzyme replacement therapy, asfotase alfa, to treat hypophosphatasia. This is a genetic disease that is not only chronic and very rare but it can actually lead to the destruction of bones, the development of weak muscles, respiratory failure, seizures and even premature death.
This came on the heals of the Company’s announcement that it would be initiating a $500million share buyback, which would take effect following the completion of the current program that still has roughly $22 million remaining of its previously authorized $400 million. Since mid-October this biotech stock has skyrocketed by as much as 30.7% following highs on December 3 of $203.30.