Why Alexion's Stock Is Trading Lower Today

Alexion Pharmaceuticals ALXN shares are trading lower on Tuesday, after the company reported the purchase of Portola Pharma for $18 per share in cash.

Alexion is an American pharmaceutical company best known for its development of Soliris, a drug used to treat the rare disorders atypical hemolytic uremic syndrome and paroxysmal nocturnal hemoglobinuria.

Alexion shares traded down 5.45% at $98.18 at time of publication on Tuesday. The stock has a 52-week range between $137.52 and $72.67.

Related Link:

Alexion Confirms FDA Approval For Soliris

Alexion To Acquire Achillion Pharma For $930M