Alexion Investigating Soliris Sales Practices, Delays Earnings Report
One analyst that has been tracking Alexion’s delayed SEC filing believes that a former employee’s allegation of improper Soliris sales is unlikely to represent widespread fraud.
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The rare disease specialist’s new CEO is former Baxalta CEO Ludwig Hantson, who takes over the helm immediately after a leadership shakeup coinciding with an audit investigation.
Alexion’s internal investigation of so-called pull-in sales found no improper financial activity, but will require employee training and amended procedures to avoid further violations of company policies.
CEO David Hallal and CFO Vikas Sinha have both left the company amid an audit investigation, while the company said it will file a delayed 10-Q in January or earlier.