UPDATE 2-Alexion Q3 results beat Street, raises FY view

Thu Oct 22, 2009 8:15am EDT

* 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 (Adds details, analyst comments)

BANGALORE 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 full-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.

"We consider this a very impressive quarter in terms of new patient additions, given that there was no positive impact from foreign exchange," Collins Stewart analyst Salveen Kochnover said in a note to clients.

The company said the impact from the stronger euro in the third quarter was offset by euro hedging rates previously set at lower levels.

Third-quarter 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.

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 for the latest quarter.

The company raised its full-year outlook and said it expects to achieve these results despite an anticipated negative impact of about $3 million related to foreign exchange hedging in the fourth quater.

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

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