Alexion Pharmaceuticals Thursday morning said it would pay $21.5 million to settle a federal probe into allegations that it violated anti-bribery laws.
The U.S. Securities & Exchange Commission investigation, underway since 2015, focused on the biotech giant’s “grant-making activities” and compliance with the Federal Corrupt Practices Act (FCPA) in several countries, including Brazil, Columbia, Japan, Russia and Turkey.
The U.S. Department of Justice had also been investigating the company’s operations in those countries, but recently closed the inquiry, Alexion said.
Bloomberg reported in 2017 that Brazilian authorities were investigating whether Alexion helped pay for lawsuits to assist patients in accessing its blockbuster drug Soliris through the national health system.
The rare-disease drugmaker, which had been cooperating with the U.S. investigation, said Thursday the settlement was neither an admission nor denial of the SEC’s findings.
Since the investigation, the company said it has enhanced its third-party payment processes and procedures, revamped its health-care professionals engagement process and improved anti-corruption training for employees.
“Alexion is pleased to have reached a resolution and to have such a strong and effective compliance culture and program in place today,” the company said in a news release Thursday. “We are proud of the actions we’ve taken that have expanded and strengthened our compliance organization.”
Alexion also announced Thursday that it closed on its previously reported acquisition of San Francisco-based Portola Pharmaceuticals for $1.4 billion.
The deal gives Alexion the drug Andexxa, which rapidly reverses life-threatening bleeds caused by drugs known as Factor Xa inhibitors.
CEO Ludwig Hantson said the drug was “a clear strategic fit with our existing enterprise in hematology and neurology.” Portola is now a wholly-owned subsidiary of Alexion.
New Haven-born Alexion moved its headquarters to Boston in 2018 but continues to have a significant Elm City research presence at 100 College St.
Contact Natalie Missakian at news@newhavenbiz.com.
