Alexion looks to settle lawsuit over Soliris sales practices for $125M
A 2016 class action lawsuit filed against Alexion claiming shady sales practices caused a decline in stock price could be nearing its end after both sides have asked a federal judge to approve a $125 million settlement.
In the settlement, Alexion will not have to admit wrongdoing, according to court documents filed Wednesday.
The class action lawsuit began on behalf of stockholders who purchased stock between Jan. 30, 2014 and May 26, 2017, alleging that Alexion and some of its executives used illegal tactics to increase sales of its drug Soliris, which costs around $440,00 a year, according to the lawsuit — making it one of the world’s most expensive drugs.
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