Less than two years later, Alexion (ALXN) is not getting the bang for the mega-bucks it put up for Synageva. Alexion paid $8.4 billion to acquire Synageva in hopes that its lead rare disease drug would become a billion-dollar product. For all of 2016, the drug delivered only $29 million in sales, impossibly far from the billion dollar potential promised. The acquisition was supposed to help Alexion diversify its portfolio and lessen the reliance on Soliris for future growth. Instead, the $8.4 billion spent on Synageva was largely wasted.
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