Alexion's Bloated Blockbuster Deal Still Haunts

Published: Feb 17, 2017

When Alexion Pharmaceuticals (ALXN) paid $8.4 billion to acquire Synageva Biopharma in May 2015, then CEO Lenny Bell told investors the high price tag was justified because Kanuma, Synageva's lead rare disease drug, would become a billion-dollar product.

Behind Kanuma in the Synageva deal, Alexion was also getting SBC-103, a second rare disease drug that would bolster the company's pipeline, Bell said.

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