Alexion Will Trim Workforce By 20% To Invest In Research

Alexion Pharmaceuticals (ALXN) will cut its workforce by 20% to reinvest in research, the biotech said Tuesday, just six months after hiring a new chief executive away from Baxalta.

XAutoplay: On | OffIn midday trading on the stock market today, Alexion dipped 1.1%, near 141.40, after the announcement earlier in the day. Alexion has trended up over the past four months and is up 17% for the year.

The biotech expects to deliver about $250 million in pretax savings each year by 2019 as a...

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