Alexion 3Q Net Profit Rises; Raises Full-Year Guidance

By Carlo Martuscelli

Alexion Pharmaceuticals Inc. on Wednesday reported a 41% increase in third-quarter profit and raised its full-year guidance.

The New Haven, Conn.-based drug maker earned a quarterly profit of $467.6 million, or $2.08 a share, compared with $330.9 million, or $1.47, for the same period last year. Excluding items, Alexion reported an adjusted profit of $2.79 a share for the quarter, compared with $2.02 last year and analyst forecasts of $2.48.

Sales rose to $1.26 billion from $1.03 billion, it added.

Chief Executive Ludwig Hantson said that the company had benefited from a very rapid launch of Ultomiris in Germany and Japan. The drug is a treatment for paroxsymal nocturnal hemoglobinuria, a rare blood-disease.

Alexion raised its revenue guidance for 2019 to between $4.86 billion and $4.89 billion, from $4.75 billion to $4.8 billion. It now sees adjusted EPS in the range of $10.25 to $10.40, up from $9.65 to $9.85 which it guided for previously.

Write to Carlo Martuscelli at [e-mail]; @carlomartu

(END) Dow Jones Newswires

October 23, 2019 07:09 ET (11:09 GMT)

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