Alexion Announces $400 Million Share Repurchase Program

pan>)--Alexion Pharmaceuticals, Inc. (NASDAQ: ALXN) (Alexion or the Company)
today announced that the Companys Board of Directors has authorized the
repurchase of up to $400 million of Alexion common stock.
Under the program, purchases may be made from time to time on the open
market, or through privately negotiated transactions, block
transactions, or other techniques, as determined by the Companys
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 Boards 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 Companys discretion.
About Alexion
Alexion Pharmaceuticals, Inc. is a biopharmaceutical company focused on
serving patients with severe and ultra-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 PNH and aHUS, two debilitating, ultra-rare
and life-threatening disorders caused by chronic uncontrolled complement
activation. Soliris is currently approved in more than 40 countries for
the treatment of PNH, and in the United States and the European Union
for the treatment of aHUS. Alexion is evaluating other potential
indications for Soliris and is developing four other highly innovative
biotechnology product candidates. This press release and further
information about Alexion Pharmaceuticals, Inc. 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 Companys
stock repurchase program. Forward-looking statements are subject
to factors that may cause Alexions 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 Alexions filings with the US Securities and
Exchange Commission, including but not limited to the risks discussed in
Alexions Quarterly Report on Form 10-Q for the period ended September
30, 2012 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.

Information Source: Business Wire

November 9th, 2012 @ 05:34pm