LONDON (ShareCast) - (ShareCast News) - Connecticut-based firm Alexion Pharmaceuticals fell over 13% in pre-market trading on Monday after the company announced the surprise resignation of its chief executive officer and chief financial officer.
David Hallal had been CEO since April of last year and will be replaced on an interim basis by former AstraZeneca CEO David Brennan. Brennan has been on the board of the US company since 2014.

Also leaving Alexion is CFO Vikas Sinha, and he will be replaced by former Honeywell CFO David Anderson.

In November, the company announced that it was launching an investigation after allegations surrounding the sales practices of its flagship product Soliris, which is used to treat blood disorders.

Trading in shares of Alexion was briefly suspended ahead of the news, but it fell almost 14% during pre-market when trading resumed. The company's stock has plummeted 40% so far this year.

During the first nine months of 2016, Alexion has reported total sales of Soliris to be $2.2bn, but until now the internal investigation has not provided evidence for the restatement of results. However, the departure of Hallal and Sinha suggests there has been a development in the investigation.

Alexion has given no extra information as to why both men have left the outfit, saying Hallal left for "personal reasons". while Sinha was leaving to "pursue other opportunities".

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