Alexion Pharmaceuticals Inc. has won approval from its board of directors for a two-for-one stock split, which if approved would double the number of issued common stock shares from 145 million to 290 million.

The split still needs to win shareholder approval at the next annual meeting for Cheshire, Conn.-based Alexion (Nasdaq: ALXN), which is scheduled for May 11. If the go-ahead is given by shareholders, then the new shares will be distributed on or about May 20, based on the number shares held by each shareholder on May 2.

SOURCE