The drama continues at Alexion Pharma (ALXN) where the CEO and CFO originally resigned back in December over questionable sales practices. The stock dropped another 9% today to new multi-year lows at $104 as the typical hiccups with changing the top executives occur. The existing COO is leaving June 1 and the interim CFO is resigning effective the end of August. As well, the head of HR is leaving in June and the head of R&D will leave at the end of the year. If not for the previous issues, this news would indeed provide something to worry about. The good news is that Alexion hired a top-notch CEO back in March and hired a new COO effective June 1. The recent results were solid and the company raised mid-point guidance to $5.20. In fact, so much value exists that JPM downgraded the stock though placing a $160 target on the stock that provides over 50% upside. Think one lets the dust settles over the next week and opportunity will exist here. Disclosure: No position