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BRIEF-Alexion to reduce 20 pct of its global workforce
September 12, 2017 / 12:22 PM / 14 days ago

BRIEF-Alexion to reduce 20 pct of its global workforce

Sept 12 (Reuters) - Alexion Pharmaceuticals Inc

* Alexion announces restructuring to advance corporate strategy

* Alexion Pharmaceuticals Inc - ‍global workforce reduction of approximately 20 percent​

* Alexion Pharmaceuticals Inc - ‍expect to deliver approximately $270 million in GAAP and approximately $250 million in non-GAAP pre-tax savings annually by 2019​

* Alexion Pharmaceuticals Inc - ‍expect to reinvest approximately $100 million annually to build pipeline

* Alexion Pharmaceuticals - ‍ Alexion anticipates total pre-tax restructuring, related expenses associated with restructuring to be $340 million to $440 million​

* Alexion Pharmaceuticals Inc - plans to relocate its headquarters to Boston, MA by mid-2018

* Alexion - ‍expects that increased financial flexibility will allow co to reinvest approximately $100 million a year into research and development starting in 2018​

* Alexion Pharmaceuticals Inc - ‍company’s 2017 revenue guidance remains unchanged​

* Alexion Pharmaceuticals Inc - company plans to have approximately 400 positions in Boston

* Alexion Pharmaceuticals Inc - ‍pre-tax restructuring and related expenses of approximately $240 million to $300 million are expected to be recorded in 2017​

* Alexion Pharmaceuticals Inc - ‍2017 GAAP EPS guidance will be impacted by restructuring and related expenses, 2017 non-GAAP EPS guidance is unchanged​

* Alexion Pharmaceuticals Inc - ‍is right-sizing certain G&A functions, such as human resources, finance and information technology (IT)

* Alexion Pharmaceuticals- ‍eliminating spend, headcount associated with previously announced de-prioritized pipeline programs, optimizing additional research and development spend​ Source text for Eikon: Further company coverage:

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