Alexion Pharmaceuticals Reports Higher Revenue, Increases Full-Year Outlook

By Aisha Al-Muslim

Alexion Pharmaceuticals (ALXN) saw its revenue and earnings increase in the latest quarter as the biopharmaceutical company had growth driven by its U.S. launches of two drugs.

The Boston-based company reported Wednesday a profit for the second quarter of $459.8 million, or $2.04 a share, compared with a net loss of $457.4 million, or $2.05 a share, a year earlier.

Excluding one-time items, adjusted earnings were $2.64 a share, above the $2.34 a share analysts polled by FactSet were looking for.

Revenue rose 15% to $1.2 billion, above the consensus forecast of $1.17 billion. The growth was driven by Ultomiris, a complement inhibitor indicated for the treatment of adult patients with paroxysmal nocturnal hemoglobinuria, and Soliris, a prescription medicine that is used to treat adults with a disease called generalized myasthenia gravis.

For the full year, Alexion is increasing total revenue and earnings per share guidance.

The company is now guiding revenue of $4.75 billion to $4.8 billion, compared with its prior outlook of $4.68 billion to $4.75 billion. The company also now expects adjusted earnings of $9.65 to $9.85, compared with the previous guidance of $9.25 to $9.45.

Write to Aisha Al-Muslim at [e-mail]

(END) Dow Jones Newswires

July 24, 2019 07:10 ET (11:10 GMT)

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