Two years ago the board of directors of Alexion Pharmaceuticals Inc. began a seismic overhaul of its leadership, strategy and pipeline. The Boston-based rare disease specialist had success with Soliris (eculizumab), its blockbuster first-in-class complement inhibitor, but needed to prove to shareholders where the next revenue streams were coming from.
A less-than successful $8.4bn takeover of Synageva BioPharma Corp. in 2015, which brought in the slow-selling Kanuma (sebelipase alfa), had made investors question Alexion’s direction. The follow-on complement inhibitor...
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