Processing Your Payment

Please do not leave this page until complete. This can take a few moments.

September 18, 2019

Alexion changes leadership, announces NH expansion

PHOTO | File image Paul Clancy
By Michael C. Bingham

New Haven-born Alexion Pharmaceuticals announced Tuesday that it will replace Executive Vice President and Chief Financial Officer Paul Clancy with the company’s chief strategy and business officer.

Aradhana Sarin joined Alexion in November 2017, two months after the drug-maker announced that it would relocate its headquarters from New Haven to Boston. Since then she has occupied roles of increasing responsibility, including nine business-development deals designed to diversify the company’s drug-development pipeline.

The company announced that Sarin will succeed Clancy as EVP and CFO after Alexion reports its third-quarter financial results in late October.

“As Paul’s successor, I am confident Aradhana will help us continue to build on the strong foundation we’ve established and execute on our business strategies,” said Alexion CEO Ludwig Hantson in a statement. “In her nearly two years at Alexion, Aradhana has created significant value for the company, leading our business development efforts to rebuild our pipeline and driving our strategic vision as we position the company for long-term success.”

The company also announced that Clancy would remain with Alexion through the transition period and continue to serve as a senior advisor though mid-2020.

Alexion still employs about 500 workers at a research facility located in its former headquarters building at 100 College Street in New Haven.

Early Wednesday afternoon, Alexion also announced plans to expand its Global Product Development lab at its College Street facility in New Haven. The purpose of the expansion, according to the company, is to increase Alexion’s capacity and capabilities to advance the development of more early medicine candidates from pre-clinical into clinical studies.

The company said it planned to invest approximately $10 million in the New Haven expansion project, which is scheduled for completion by the end of next year.

Shares of Alexion stock (Nasdaq: ALXN) have fallen 11.6 percent over the past 12 months, and 24.9 percent over the past 24 months. Shares were trading at just under $103 on Wednesday morning.

Sign up for Enews

Most Recent

Most Recent

0 Comments

Order a PDF