Alexion Plans to Boost Revenue Guidance, Buy Back $3 Billion of Stock

Alexion Pharmaceuticals  (ALXN) – Get Report shares rose Tuesday after the biopharmaceutical company announced plans to raise full-year revenue guidance by more than $200 million and to execute at least $3 billion of stock buybacks in 2021 to 2023.

The stock was up 2.39% to $118.00 in premarket trading. Shares have climbed 7% year to date through Monday.

Alexion said it has a “robust pipeline of more than 20 development programs across seven rare disease franchises, with expected continued growth from more than five novel investigational new drug applications by 2025.”

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