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Alexion 1st-quarter beats, raises full-year outlook
(Reuters) - Alexion Pharmaceuticals Inc (ALXN.O) posted a better-than-expected quarterly profit, helped by strong sales of its genetic disorder drug Soliris, and it raised its full-year forecast.
The company now expects adjusted earnings of $1.65 to $1.75 per share, compared with its prior forecast of $1.60 to $1.70 per share.
It expects full-year revenue to be between $1.065 billion and $1.085 billion, up from $1.04 billion to $1.07 billion.
Analysts on an average are expecting a full-year profit of $1.74 per share, on revenue of $1.07 billion, according to Thomson Reuters I/B/E/S.
First-quarter net income was $45.4 million, or 23 cents per share, compared with $26.8 million, or 14 cents per share, a year ago.
Excluding items, it earned 45 cents per share.
Revenue rose 47 percent to $244.7 million.
Analysts, on an average, were expecting earnings of 39 cents a share, excluding special items, on revenue of $241.1 million, according to Thomson Reuters I/B/E/S.
Alexion derives all its revenue from Soliris, which treats paroxysmal nocturnal hemoglobinuria -- a disorder that can lead to anemia, fatigue, pain and difficulty in breathing.
Soliris is also approved to treat atypical hemolytic uremic syndrome -- a rare genetic disorder that damages vital organs.
Shares of the Cheshire, Connecticut-based company closed at $91.94 on Monday on the Nasdaq.
(Reporting by Shailesh Kuber in Bangalore; Editing by Roshni Menon)
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