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  "documentTitle": "Alexion Pharmaceuticals, Inc. (ALXN)",
  "authorId": "02_Elliott_Management",
  "authorName": "Elliott",
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  "presentationDate": "2020-05-12 00:00:00",
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  "notes": "This is the final page of a formal activist investor letter.",
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      "kind": "callout",
      "text": "We strongly encourage fresh thinking and bold action without further delay.",
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      "text": "We look forward to your response, and as always, we would be happy to answer any questions that you have as they pertain to this letter. We remain hopeful that we can work together now as we have in the past to advance the best interests of the Company and its stakeholders.",
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      "kind": "paragraph",
      "text": "Cc: Alexion Board of Directors, Alexion CEO Dr. Ludwig Hantson",
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      "text": "The events of recent months have strengthened the case. Late last year, you insisted that Alexion simply needed more time to prove that its strategy was sufficient to turn things around. Since then, Alexion has continued to disappoint investors with its persistent share-price underperformance and further missteps. At the same time, the quick stock-market recovery from the March crash and the growing strength of pharmaceutical markets have bolstered the prospects of a win-win transaction. There are healthy acquirers who would benefit immensely from acquiring a company of Alexion's strength and profile.",
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      "kind": "paragraph",
      "text": "Sincerely,\n\nElliott Advisors (UK) Limited",
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      "text": "Alexion's Board has overseen significant and consistent value destruction for shareholders over many years. Those who continue to cling to a failed strategy do not make a compelling case that they are best fit to steer Alexion into the future. Just as the Board has struggled to defend its current strategy given these suboptimal results, we anticipate that you and many of your fellow Board members will struggle to defend your track records when asking shareholders to support your continued service on the Board in the future. We strongly encourage fresh thinking and bold action without further delay.",
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      "kind": "paragraph",
      "text": "Company, but those improvements have not gotten to the core challenge of the market's concerns. We first made this case to you only after a thorough consideration of all other alternatives.",
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