News

Alexion Pharmaceuticals Inc. moving headquarters from New Haven to Boston

Posted: Updated:
NEW HAVEN -

Alexion Pharmaceuticals Inc. has announced its relocating its headquarters from New Haven to Boston.

In what it calls a plan to "re-align the global organization with its refocused corporate strategy," the company also announced today it is cutting 20-percent of its workforce.

According to the company, about 400 jobs will move to Boston by the middle of next year. The company will maintain a research and development center in New Haven with about 450 employees.

Alexion says the moves are expected to save about $270 million annually, and allow the reinvestment of about $100 million a year into research and development.

Chief Executive Officer Ludwig Hantson says the moves "will create a leaner organization with greater financial flexibility."

Alexion developed Soliris, a high-priced treatment for two rare genetic disorders.

The Associated Press wire services helped contribute to this report.

  • Connecticut ConsumerConsumerMore>>

  • Business Briefs: Weight Watchers, Michael Kors, Pandora

    Business Briefs: Weight Watchers, Michael Kors, Pandora

    Monday, September 24 2018 7:36 PM EDT2018-09-24 23:36:13 GMT

    Weight Watchers will now be known as WW in an effort to expand its brand to overall health and wellness.

    Weight Watchers will now be known as WW in an effort to expand its brand to overall health and wellness.

  • Business Briefs: Sky, Time to Vote, legroom

    Business Briefs: Sky, Time to Vote, legroom

    Monday, September 24 2018 8:57 AM EDT2018-09-24 12:57:03 GMT
    British broadcaster Sky is advising its shareholders to accept Comcast's $40 billion offer. U.S. companies are trying to get out the vote for the midterm elections.British broadcaster Sky is advising its shareholders to accept Comcast's $40 billion offer. U.S. companies are trying to get out the vote for the midterm elections.
    British broadcaster Sky is advising its shareholders to accept Comcast's $40 billion offer. U.S. companies are trying to get out the vote for the midterm elections.British broadcaster Sky is advising its shareholders to accept Comcast's $40 billion offer. U.S. companies are trying to get out the vote for the midterm elections.

    British broadcaster Sky is advising its shareholders to accept Comcast's $40 billion offer. U.S. companies are trying to get out the vote for the midterm elections.

    British broadcaster Sky is advising its shareholders to accept Comcast's $40 billion offer. U.S. companies are trying to get out the vote for the midterm elections.

  • Business Briefs: Nike stocks, Amazon Storefronts, Strava

    Business Briefs: Nike stocks, Amazon Storefronts, Strava

    Sunday, September 23 2018 1:16 PM EDT2018-09-23 17:16:23 GMT
    Business Briefs: Nike stocks, Amazon Storefronts, StravaBusiness Briefs: Nike stocks, Amazon Storefronts, Strava
    Business Briefs: Nike stocks, Amazon Storefronts, StravaBusiness Briefs: Nike stocks, Amazon Storefronts, Strava

    Nike is set to release its quarterly earnings Tuesday. “Amazon Storefronts” is live. Fitness app Strava is set to help find better routes for users.

    Nike is set to release its quarterly earnings Tuesday. “Amazon Storefronts” is live. Fitness app Strava is set to help find better routes for users.

sorry to interrupt
your first 20 are free
Access to News 12 is free for Optimum, Comcast®, Spectrum Networks® and Service ElectricSM customers.
Please enjoy 20 complimentary views of articles, photos, and videos during the next 30 days.
you have reached your 20 view limit
Access to News 12 is free for Optimum, Comcast®, Spectrum Networks® and Service ElectricSM customers.
Please login or create an account to continue enjoying News12.
Our sign-up page is undergoing maintenance and is not currently available. However, you will be given direct access to news12.com while we complete our upgrade.
When we are back up and running you will be prompted at that time to complete your sign in. Until then, enjoy the local news, weather, traffic and more that's "as local as local news gets."