Elliott sets its sights on Alexion Pharma

Elliott Associates founder Paul Singer. Photo: David A. Grogan/Getty Images

Paul Singer's Elliott Management has amassed an undisclosed stake in $24 billion biotech Alexion Pharmaceuticals, according to The NY Times:

"If Alexion's management does not take action — from offering more aggressive financial performance guidance to considering strategic alternatives such as selling itself — Elliott could end up taking actions like beginning a proxy fight."