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).
The most expensive drug in the U.S. is Soliris, from Alexion (ALXN). It costs $409,500 a year, and treats a rare disorder in which the immune system destroys red blood cells at night. Many of the most expensive drugs -- such as Soliris -- treat rare diseases that only a few hundred people suffer from. Those drugs aren't the real problem. Rather, it's the drugs in the $20,000 to $100,000 range, which mainly treat cancer and multiple sclerosis. Those diseases are very common in the elderly population.