36.6 F
New York
Wednesday, January 27, 2021

Alexion, Inc. [NASDAQ: ALXN] Agrees To Pay $21 Million To Resolve SEC Charges

Must read

JPMorgan [NYSE: JPM] Announced To Initiate A Digital Retail Bank In The United Kingdom

JPMorgan Chase revealed that the company will launch a new digital retail bank in the United Kingdom offering the customer of the region...

Humanigen [NASDAQ: HGEN] Announces Expansion Of Manufacturing Agreement With Ajinomoto Bio-Pharma

Humanigen Inc revealed that the company has extended the manufacturing agreement with  Ajinomoto BioPharma to support the fill-finish of Lenzilumab. The Lenzilumab is...

Synchrony [NYSE: SYF] Announced To Purchase Allegro Credit

Synchrony Financials revealed that the company entered into a definitive contract to Purchase Allegro Credit. Allegro Credit's customer base and merchant network will...

Vericel Corp [NASDAQ: VCEL] Names Joe Mara As The New CFO

Vericel Corporation revealed that the company has named Joe Mara as the CFO of the company. He has over more than 20 years...

The Securities and Exchange Commission declared today that pharmaceutical company Alexion Pharmaceutical, Inc. [NASDAQ: ALXN] has accepted that it will pay $21 million to resolve the SEC charges. Alexion has violated the books and records and internal accounting controls provisions of the Foreign Corrupt Practices Act (FCPA).

According to charges, two subsidiaries of Alexion Inc. has paid an amount to foreign government officials to secure favorable treatment for its drug, Soliris. As per the charges, Alexion Russia has made a payment to Russian government healthcare officials to gain favor for its drug Soliris from 2011 to 2015.

Likewise, the pharmaceutical company’s Turkish subsidiary has also made improper payments to Turkish officials to secure improper influence for their drug Soliris from 2010 to 2015.

Alexion subsidiaries had kept the false record of these illegal payments and its internal accounting controls failed to detect. Moreover, Alexion subsidiaries in Colombia and Brazil also failed to maintain accounting records. These subsidiaries also involved in the creation of false financial records concerning payments to patient advocacy organizations.

Shares of Alexion Inc. soared 0.72% at +0.81 during the trading session of Thursday. It has a day low range of 112.88 and a day high range of 114.49. Its return on investment (ROI) is 16.90%, return on equity (ROE) is 21.80%, and return on assets (ROA) is 14.60%.

Alexion has a gross margin of 92.10%, a profit margin of 44.80%, and an operating margin of 43.40%. The pharmaceutical firm had a trading volume of 151.95K as compared to the average volume of roughly 2.28 million.

Without denying and admitting the charges, Alexion Inc will pay $14,210,194 in disgorgement, $3,766,337 in prejudgment interest, and a $3.5 million penalty.

More articles

Latest article

A Paychex [NASDAQ: PAYX] Subsidiary Announces Strategic Collaboration With Zoho Books

SurePayroll, a subsidiary of Paychex company revealed that the company has formed a collaboration with Zoho books. SurePAyroll is a provider of small...

MGP Ingredients [NASDAQ: MGPI] Announced To Acquire Luxco and Its Affiliate Companies

MGP Ingredients  revealed a definitive contract to purchase Luxco, Inc and its affiliated companies. Luxco is an alcohol beverage company with more than 60...

Conformis [NASDAQ: CFMS] Entered A Non-Exclusive agreement with SITES Medical

Conformis Inc revealed that the company inked a development and supply contract with sites medical. Both of the companies will work together to...

Colliers International [NASDAQ: CIGI] Announces Executive Leadership Changes For Australian Business

Colliers International  reported that the company has named Malcom Tyson as the new Chief Executive Officer. He is appointed as the CEO so...

Korn Ferry [NYSE: KFY] Announces Expansion Of Its Footprint In Russian Market

Korn Fery revealed that the company is expanding its footprint in Russia. Moreover, it is adding a high expertise team of executive search...

Haemonetics [NYSE: HAE] To Purchase Cardiva For An Upfront Payment Of $475M

Haemonetics Corporation revealed that the company has inked a definitive contract to purchase Cardiva Medical Inc. Under the contract, Haemontics will pay an...

Philips [NYSE: PHG] To Purchase Capsule Technologies For Cash Consideration Of USD 635M

Koninklijke Philip revealed that the company has inked a contract to purchase Capsule technologies. The company will pay a cash price of $636...

Thermo Fisher Scientific [NYSE: TMO] To Purchase Mesa Biotech For Approx. $450M In Cash

Thermo fisher scientific inc revealed that the company has signed a definitive contract to purchase Mesa Biotech. Thermo will pay a value price...