Alexion CEO And CFO Leave Company As Accounting Probe Nears Completion

Alexion Pharmaceuticals Inc. said both its chief executive and chief financial officer have left the company, as the previously-announced internal accounting investigation nears completion. The company said CEO David Hallal has resigned for personal reasons, and its CFO Vikas Sinha has left to pursue other opportunities. The company named board member David Brennan as interim-CEO, effective immediately, and David Anderson has joined the company to be CFO. The company said its audit and finance committee has not at this point identified any facts that would require a restatement of previous results. The company expects to file its quarterly report for the quarter ended Sept. 30 by January 2017. "With strong new leaders in place, we will continue to be relentlessly focused on serving patients and families with devastating and rare diseases," said Chairman Leonard Bell. The stock, which is halted for news until 8:00 a.m. ET, has tumbled 31% year to date through Friday, while the S&P 500 has gained 11%.

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