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Alexion CEO Receives Nearly $17 Million for Sale of Company Stock

The CEO of Alexion Pharmaceuticals Inc (ALXN), Leonard Bell, sold more than 100,000 shares of company stock Wednesday for nearly $17 million. At a price of $160.71 per share, the sale of 105,000 shares of company stock brought $16,874,551.

Also on Wednesday, Alexion researchers said new data from several studies of asfotase alfa in pediatric patients with hypophosphatasia (HPP), a rare bone disease, will be presented at the American Society for Bone and Mineral Research's annual meeting in Houston, Texas, in September.

Based in Delaware, the biopharmaceutical company was founded by Dr. Bell and incorporated in 1992. It serves patients with severe and ultra-rare disorders through the development and commercialization of life-altering therapeutic products. "No is a word they've heard too often," the company's website says of the patients who are helped by Alexion.

Before founding Alexion, Dr. Bell was an attending physician at Yale-New Haven Hospital and assistant professor of medicine and pathology at the Yale University School of Medicine, his alma mater. He is still on the faculty, as an adjunct assistant professor of medicine and pathology, of the Yale School of Medicine.

Last month Alexion reported a 38% increase in second-quarter sales over the same period in 2013. It also reported a 74% in GAAP net income and a 56% increase in non-GAAP net income in the second quarter of 2014.

This article first appeared on GuruFocus.