March 13 Alexion Pharmaceuticals Inc
said on Monday it has initiated a company-wide restructuring
that will affect about 7 percent of its workforce.
The rare-disease drug maker, which has been looking to
steady the ship following the exit of its top management, had
3,121 employees as of Dec. 31.
Alexion's chief executive and chief financial officer
resigned in December after the board had lost confidence in
"We are investing our resources in key growth drivers,
including our portfolio of marketed products," the company said
in an emailed statement.
The U.S. biotech's flagship drug, Soliris, has fueled much
of the company's growth, but slowing sales in recent quarters
and looming competition have made investors jittery.
(Reporting by Ankur Banerjee in Bengaluru; Editing by Shounak