UPDATE 3-Alexion Q2 profit beats Street, raises 2009 outlook

* Q2 EPS $0.23 vs est $0.17, according to Reuters Estimates

* Soliris revenue up 55 percent

* Raises FY09 EPS to $1.01-$1.06/shr

* Raises FY09 revenue to $368-$378 mln

* Shares up about 8 percent (Recasts, adds conference call details in paragraphs 12-14, updates share movement)

By Shailesh Kuber

BANGALORE, July 23 (Reuters) - Alexion Pharmaceuticals Inc (ALXN.O) posted higher quarterly earnings, helped by a 55 percent jump in revenue from its genetic-disorder drug Soliris, and raised its 2009 full-year outlook citing its year-to-date performance.

"The quarter was better-than-expected based on strong Soliris sales and in-line operating expense," Collins Stewart analyst Salveen Kochnover wrote in a research note.

The pharmaceutical company derives all of its revenue from Soliris, which treats paroxysmal nocturnal hemoglobinuria. The rare genetic disorder can lead to anemia, fatigue, pain and difficulty in breathing.

"In second-half 2009 and 2010, Soliris should benefit from both the roll out in multiple new territories including Australia, Canada, Japan, and Latin America and the potential use in new indications," Cowen & Co analyst Eric Schmidt said.

Soliris is currently also being evaluated as a treatment for patients with a blood disorder called atypical hemolytic syndrome and for patients with myasthenia gravis, a rare neurologic disorder.

The growth in Soliris sales and earnings per share could be underestimated, Goldman Sachs analyst Jessica Li said and maintained a "buy" rating on Alexion stock.

For the second quarter, the company earned a profit of $16.8 million, or 19 cents a share, compared with $2.4 million, or 3 cents a share, in the year-ago period.

Excluding items, but including a charge of 4 cents, the company earned 26 cents a share.

According to Reuters Estimates, the adjusted profit was 23 cents a share, excluding the non-cash charge of 4 cents associated with the exchange of convertible notes, that beat analysts' consensus view of 17 cents.

For the full year, the company now expects to earn $1.01 to $1.06 per share, excluding items, on revenue between $368 million and $378 million.

Alexion had previously expected to earn $1.00 to $1.05 per share, on revenue of $360 million to $375 million.

"We remain on track to achieve a robust 50 percent increase in sales in 2009, compared with 2008 on a constant currency basis," Alexion Chief Executive Leonard Bell said on a conference call with analysts.

Alexion will increase its investments in the second half of 2009 with an aim to expand its operations to 10 new European countries in 2010, Bell said.

"In addition, later this year we will begin implementing market entry strategies to meet initial patient demand in middle-eastern countries," he added.

Shares of the company were up 6 percent at $40.51 in midday trade Thursday. They touched a high of $41.08 earlier in the session. (Editing by Jarshad Kakkrakandy, Himani Sarkar)