Alexion Pharmaceuticals Inc said on Friday its board of directors had unanimously decided against hedge fund Elliott Management's push for a "proactive sale" process, saying it would not be in the best interest of shareholders. For years, Elliott Management, which has built a stake in Alexion, has been urging the company to take more action to boost its stock price. "We have recently engaged in good faith with ... Elliott Management, to listen to their point of view, including their recommendation that we immediately launch a proactive sale process," the company said in a statement.