The U.S. Trustee, the bankruptcy arm of the Justice Department, will appoint one or more committees to represent the interests of creditors and stockholders in working with the company to develop a plan of reorganization to get out of debt.
Alexion Pharmaceuticals Inc. is an American pharmaceutical company best known for its development of Soliris, a drug used to treat the rare disorders atypical hemolytic uremic syndrome (aHUS) and paroxysmal nocturnal hemoglobinuria (PNH).
Soliris is a breakthrough, potentially lifesaving treatment for two rare blood diseases, affecting about 180 patients in Canada. The board, which has not held an excessive-price hearing since 2012, said it had demanded the U.S.-based firm lower the price and pay back revenue it made above the cap.