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Malloy Pledged $51 Million in Tax Benefits for Alexion in 2012. Now, They’re Leaving for Boston.

September 12, 2017 By Staff
Malloy Pledged $51 Million in Tax Benefits for Alexion in 2012. Now, They’re Leaving for Boston.

It's the latest high-profile departure from Connecticut for a national or multinational corporation.

Alexion Pharmaceuticals, which at one point had around 1,000 employees at Connecticut, is moving its headquarters from New Haven, Connecticut to Boston, Massachusetts in 2018.

Alexion made the announcement in a Tuesday press releease about “restructuring“:

As part of these initiatives, Alexion plans to relocate its headquarters to Boston, MA by mid-2018. The Company plans to have approximately 400 positions in Boston. As the Company reorganizes to deliver on its re-focused strategy, Boston will provide access to a larger biopharmaceutical talent pool and a variety of life-sciences partners to further support future growth initiatives.

“Alexion’s 25 year history began in New Haven, and Connecticut remains a critical part of our future. We value our relationship with the state of Connecticut, and our New Haven-based research team is critical to growing and strengthening Alexion’s leadership in complement, which will allow us to fulfill our mission of serving patients and families with rare and ultra-rare diseases,” said Hantson.

Alexion will, for now, maintain its facility, and around 450 employees, in New Haven.

Alexion was part of Malloy’s “First Five” initiative in 2012. He said at the time:

“Fast-growing companies like Alexion are true engines of economic growth. They attract investments, spur production and jobs in other industries, and improve our overall economy. Their decision to grow here in our state is a major step forward in our larger strategy to establish Connecticut as a world-renowned life sciences hub,” Governor Malloy said.

The state supported Alexion with “up to $51 million in assistance through the First Five program.”