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We are looking at Alexion Pharmaceuticals (ALXN) today.
Why Alexion Pharmaceuticals (ALXN) shares fell more than 3% today?
Shares of Alexion Pharmaceuticals lost more than 3% on Wednesday. The SEC is fining the company for bribing foreign government officials to receive favorable treatment. The company's subsidiaries from 2010 to 2015 in Turkey and Russia from 2011 to 2015 bribed officials and maintained false records of such payments. The fine is adding up to a bit more than $20 million, but investors hate such dealings with the SEC, as they should. And, the stock is paying the price.
The company is still a very well-managed, cash-rich pharmaceutical that develops treatment for rare diseases such as multiple sclerosis (M.S.). Its SOLIRIS® (ECULIZUMAB) is a leading drug in the U.S. Assuming that this bribery case doesn't snowball to a bigger fraud, the stock is hovering in an undervalued range that may be worth adding to your watchlist. Check out the company's Stock Card to see the evidence of its strong operations.