The lead drug in Alex­ion’s $930M buy­out deal last fall just flopped — adding in­jury to an­a­lysts’ M&A in­sults

When Alex­ion $ALXN put down $930 mil­lion in cash last fall to buy Achillion, the biotech’s top ex­ecs were par­tic­u­lar­ly proud of 2 clin­i­cal-stage as­sets, with a spot­light on the lead drug dan­i­co­pan (ACH-4471) in Phase II. That drug, along with a com­pan­ion ther­a­py in Phase I, fit right in their R&D wheel­house, not­ed CEO Lud­wig Hantson.

But now the lead drug, re­dubbed ALXN2040, is be­ing washed out and repo­si­tioned af­ter fail­ing 2 Phase II tri­als for C3 Glomeru­lopa­thy.

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