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.

sorry to interrupt
your first 5 are free
Access to News 12 is free for Optimum, Comcast®, Time Warner® and Service ElectricSM customers.
Please enjoy 5 complimentary views of articles, photos, and videos during the next 30 days.
you have reached your 5 view limit
Access to News 12 is free for Optimum, Comcast®, Time Warner® and Service ElectricSM customers.
Please login, create an account or subscribe 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."