Alexion planning major expansion in Ireland
- Alexion, which is based in Cheshire, CT, is investing $500 million to build a biologics manufacturing operation in a Dublin suburb. The company also plans to hire 200 additional workers.
- Alexion already has a presence in Ireland dating back to 2013 when it spent $150 million on labs in Althone and College Park.
- The larger context for Alexion, which focuses on rare drugs, is expansion of rare drug R&D based on its strong future.
At one point, Alexion had the distinction of making the most expensive drug in the world--- Soliris (eculizumab), which is used to treat two very rare blood diseases and costs anywhere from $500,000 to $700,000 per year. Whether Soliris is still the most expensive drug in the world is not certain; however, it is easily ranked in the top 10. Alexion is focused on rare diseases and ultra-orphan drugs, such as Soliris. As part of its expansion plan, in addition to ramping up its R&D efforts in rare diseases, Alexion recently bought another rare diseases company, Synageva, for $8.4 billion. With this acquisition, Alexion expanded its pipeline and its vision for the future.
- Fierce Biotech Surging Alexion plots a $500M splash in Ireland