Alnylam Announces $1 Billion Share Repurchase Program and Change in Commercial Leadership

Alnylam expects approximately $500 million of repurchases by year-end 2026, with the balance during 2027, subject to market conditions.

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Board authorizes share repurchase program reflecting confidence in Alnylam's long-term growth prospects and commitment to disciplined capital allocation

Commercial leadership transition supports the Company's next phase of growth

CAMBRIDGE, Mass.--(BUSINESS WIRE)-- Alnylam Pharmaceuticals, Inc. (Nasdaq: ALNY), the leading RNAi therapeutics company, today announced that its Board of Directors has authorized a $1 billion share repurchase program and that the Company will transition to new commercial leadership as it enters its next phase of growth.

"Today we announced two important decisions, both of which demonstrate our conviction in Alnylam's future," said Amy Schulman, Chair of Alnylam's Board of Directors. "Alnylam has a distinctive and robust scientific foundation, a strong commercial opportunity and a fulsome pipeline. We will continue to focus on translating those strengths into sustained performance and long-term value for shareholders. Today’s repurchase authorization reflects our confidence in that future and our commitment to disciplined capital allocation. We are committed to continuing to evaluate opportunities to build on Alnylam’s strengths and create value for our shareholders."

$1 Billion Share Repurchase Program

Alnylam's Board of Directors has authorized the repurchase of up to $1 billion of the Company's common stock, reflecting its confidence in the Company's long-term growth prospects and its belief that the current share price does not fully reflect Alnylam's intrinsic value. Pursuant to this authorization, the Company expects to repurchase approximately $500 million of its common stock by the end of 2026 and the balance during 2027, subject to market conditions.

Returning capital to shareholders represents an important evolution in Alnylam's financial profile. Today's share repurchase authorization allows us to enhance shareholder returns while continuing to invest in our ongoing ATTR-CM launch, robust pipeline and select external innovation.

Commercial Leadership Transition

Alnylam also announced that Tolga Tanguler will depart his role as Chief Commercialization Officer. The Company is working with an executive search firm to support the selection of its next Chief Commercialization Officer and anticipates providing an update in due course.

During Mr. Tanguler's tenure, Alnylam significantly expanded its global commercial organization and marketed portfolio, establishing a strong foundation for future growth. As the Company looks ahead, it remains focused on expanding the reach of its medicines, building on its leadership in TTR and preparing for future launches.

"I'm grateful for Tolga’s leadership and the contributions he has made over the past several years," said Yvonne Greenstreet, M.D., Chief Executive Officer of Alnylam. "As we look ahead, we have significant opportunities to reach more patients with our medicines, advance our pipeline and continue building a sustainable, high-performing business."

About Alnylam Pharmaceuticals

Alnylam (Nasdaq: ALNY) is a leading global biopharmaceutical company and the pioneer of the RNA interference (RNAi) revolution. The Company is focused on developing transformative therapies with the potential to prevent, halt, or reverse disease. For more than two decades, Alnylam has advanced the Nobel-prize-winning science of RNAi, delivering critical breakthroughs and six approved medicines. Alnylam has medicines available in more than 70 countries and a rapidly expanding and robust pipeline, in addition to consistently being recognized as an exceptional workplace and socially responsible organization. The Company is executing on its Alnylam 2030 strategy to accelerate innovation and scale impact to transform human health. For more information, please visit www.alnylam.com or follow Alnylam on X, LinkedIn, Facebook, Instagram, or YouTube.

Forward-Looking Statements

This press release contains forward-looking statements. Forward-looking statements include statements regarding Alnylam’s expectations, beliefs, goals, plans or prospects, including, without limitation, statements regarding: Alnylam’s long-term growth prospects; Alnylam’s ability to build on its strengths, achieve sustained performance and create value for its shareholders; Alnylam’s ability to advance its pipeline and the potential it will pursue external innovation; the timing of Alnylam’s selection of its next Chief Commercialization Officer and any public announcement thereof; Alnylam’s ability to expand the reach of its medicines, build on its leadership in TTR, launch products in the future and continue to build a sustainable, high-performing business; the value of shares of Alnylam’s common stock that it will repurchase under its $1 billion share repurchase program, and the timing of any such repurchases; and Alnylam’s ability to achieve the goals in its Alnylam 2030 strategy. Actual results and future plans may differ materially from those indicated by these forward-looking statements as a result of various important risks, uncertainties and other factors, including, without limitation, risks and uncertainties relating to: Alnylam’s ability to successfully execute on its Alnylam 2030 strategy; Alnylam’s ability to successfully launch, market and sell Alnylam’s approved products globally, including AMVUTTRA; Alnylam’s ability to discover and develop novel drug candidates and delivery approaches and successfully demonstrate the efficacy and safety of its product candidates; the pre-clinical and clinical results for Alnylam’s product candidates; actions or advice of regulatory agencies and Alnylam’s ability to obtain and maintain regulatory approval for its product candidates, as well as favorable pricing and reimbursement; delays, interruptions or failures in the manufacture and supply of Alnylam’s marketed products or its product candidates; obtaining, maintaining and protecting intellectual property; Alnylam’s ability to manage its growth and operating expenses through disciplined investment in operations; Alnylam’s ability to maintain strategic business collaborations; Alnylam’s dependence on third parties for the development and commercialization of certain products; the outcome of litigation and government investigations; the risk of future litigation and government investigations; and unexpected expenditures; as well as those risks and uncertainties more fully discussed in the “Risk Factors” filed with Alnylam’s most recent periodic report (Quarterly Report on Form10-Q or Annual Report on Form 10-K) filed with the SEC and in its other SEC filings. Alnylam explicitly disclaims any obligation, except to the extent required by law, to update any forward-looking statements.

View source version on businesswire.com: https://www.businesswire.com/news/home/20261104468006/en/

Investor Relations
investors@alnylam.com

Media Relations
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Source: Alnylam Pharmaceuticals, Inc.

Key Terms

rna interference medical

RNA interference is a natural cellular process that acts like a mute switch to reduce or silence the activity of a specific gene by targeting its messenger RNA, the blueprint used to make a protein. For investors, it matters because therapies and diagnostics that harness this mechanism can precisely block disease-causing proteins, creating new drug classes with high potential reward but also scientific, manufacturing and regulatory risks that affect company value.