Alexion Announces $400 Million Share Repurchase Program
Alexion Pharmaceuticals (NASDAQ: ALXN) (Alexion or the Company) today announced that the Company's Board of Directors has authorized the repurchase of up to $400 million of Alexion common stock.
Under the program, purchases may be made from time to time on the open market, or through privately negotiated transactions, block transactions, or other techniques, as determined by the Company's management and in accordance with prevailing market conditions and the requirements of the Securities and Exchange Commission. Alexion expects to fund all purchases from cash on hand and future cash flows from operations. The Board's authorization is open-ended and does not establish a timeframe for the purchases. The Company is not obligated to acquire a particular number of shares, and the program may be discontinued at any time at the Company's discretion.
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