By Colin Kellaher

Alexion Pharmaceuticals Inc. (ALXN) on Wednesday said its board authorized the repurchase of up to $1 billion in stock.

The Boston biopharmaceutical company said it has no obligation to buy back any particular number of shares under the program, which has no expiration date.

Alexion, which has about 224 million shares outstanding, sports a market capitalization of roughly $22.26 billion based on Tuesday's closing price of $99.28.

Write to Colin Kellaher at colin.kellaher@wsj.com

(END) Dow Jones Newswires

October 23, 2019 09:04 ET (13:04 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.
Alexion Pharmaceuticals (NASDAQ:ALXN)
Historical Stock Chart
From Mar 2024 to Apr 2024 Click Here for more Alexion Pharmaceuticals Charts.
Alexion Pharmaceuticals (NASDAQ:ALXN)
Historical Stock Chart
From Apr 2023 to Apr 2024 Click Here for more Alexion Pharmaceuticals Charts.