CORRECTED - CORRECTED-UPDATE 1-Alexion Q3 results beat Street, raises FY vie

Thu Oct 22, 2009 7:59am EDT

(Corrects second bullet point to show that FY revenue outlook has been raised to $383-$385 mln, not $368-$378 mln)

* Q3 rev $102.6 mln, adjusted EPS of $0.37

* Ups FY rev to $383-$385 mln from $368-$378 mln

* Ups FY adjusted EPS to $1.15-$1.18 from $1.01-$1.06

Oct 22 (Reuters) - Alexion Pharmaceuticals Inc (ALXN.O) posted better-than-expected quarterly results, helped by the addition of new patients receiving its genetic disorder drug Soliris in the United States and Europe, and raised its fiscal year outlook.

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

For the third quarter, the company's total revenue jumped 34 percent to $102.6 million from $76.5 million in the year-ago period.

Net income was $26.7 million, or 29 cents a share, compared with $19.7 million, or 23 cents a share, in the year-ago period. Excluding items, it earned 37 cents a share in the latest quarter.

According to Thomson Reuters I/B/E/S, analysts were expecting the company to earn 21 cents a share and revenue of $98.3 million.

Shares of Alexion closed at $44.13 Wednesday on Nasdaq. (Reporting by Jennifer Robin Raj in Bangalore; Editing by Anil D'Silva)

Related Quotes and News

Company
Price
Related News
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.