Alexion Russia and Alexion Turkey falsely recorded the improper payments as legitimate expenses, according to the Commission.
The SEC further alleged that Alexion Brazil and Alexion Colombia failed to maintain accurate books and records regarding payments to third parties including patient advocacy organizations (PAOs) from 2013 to 2015.
Alexion Pharmaceuticals obtained unjust gains totaling around $14.1 million as a result of its subsidiaries’ conduct, which is a violation of Section 13(b)(2)(A) and Section 13(b)(2)(B) of the Exchange Act, according to the SEC.
Alexion Pharmaceuticals’ offer of settlement
Alexion Pharmaceuticals submitted an offer of settlement without admitting or denying its allegations.
Under the settlement offer, the Boston-based pharmaceutical company agreed to pay a disgorgement of $14,210,194, prejudgment interest of $3,766,337 and a civil penalty of $3,500,000 to the Commission.
Additionally, Alexion Pharmaceuticals agreed to stop committing or causing any violations and any future violations of the Exchange Act.
