ALXN - Alexion Pharmaceuticals: Undervalued As Pre-Emptive Moves Counter The Rivals
Investment Thesis
Backed by strong pricing power, Alexion Pharmaceuticals, Inc. (ALXN), a biopharmaceutical company focused on rare and ultra-rare disorders, has witnessed a solid sales growth over the years. As the Big Pharma, under pressure from the generics, is slowly turning its attention to rare diseases to power its top-line, the sector rivalry is intensifying. Meanwhile, the barriers to entry long enjoyed by Alexion is softening with the regulators turning down the patent extensions for its blockbuster drug, Soliris. The company stock has dipped ~17% during the past twelve months, nearly double the