Nearly four years removed from a disastrous sales fraud probe and an overhaul of its senior leadership, Alexion has launched a campaign to bolster its rare disease pipeline through pricey acquisitions. But one activist investor thinks Alexion’s strategy is ill-conceived––and the old foe is airing its grievances in public. In an open letter to the drugmaker’s board, Elliott Advisors, a subsidiary of infamous proxy brawler Elliott Management, slammed Alexion’s deal to buy Portola Pharmaceuticals, calling the buyout a symptom of Alexion’s “go-it-alone, trust-us” approach toward investors. Last week, Alexion inked the $1.4 billion agreement to acquire Portola and its laggard bleeding drug Andexxa, which has delivered disappointing sales since its launch in 2018.
Read the full article: Activist Investor Blasts Alexion’s $1.4B Portola Buy in Scathing Open Letter //
Source: https://www.fiercepharma.com/pharma/activist-investor-blasts-alexion-s-1-4b-portola-buy-open-letter