Jan 30 Alexion Pharmaceuticals Inc said
it expected revenue from its blood disorder drug, Soliris, to
hit the $2 billion mark in 2014, sending its shares up 27
percent to a life-high.
The company reported fourth-quarter results and forecast
full-year results ahead of analysts' expectations, helped by
soaring sales of the drug.
Soliris is the company's sole drug. It is the only approved
treatment for two rare, life-threating blood disorders, allowing
Alexion to command a hefty price.
The drug is also being developed for other orphan
indications, or condition affecting less than 200,000 people.
Sales from Soliris rose about 38 percent to $441.9 million
in the fourth quarter ended Dec. 31. Sales are expected to rise
to between $2 billion to $2.02 billion in 2014 from $1.55
billion in 2013.
Analysts on average were expecting sales of $430.7 million
in the fourth quarter and sales of $1.96 billion in 2014,
according to Thomson Reuters I/B/E/S.
Alexion forecast 2014 adjusted earnings of $3.70 to $3.80
per share, higher than analysts' estimate of $3.46.
Net loss for the fourth quarter was $19 million, or 10 cents
per share, including a $95.8 million non-cash tax expense and a
$33.5 million expense related to the impairment of intangible
The company earned $81 million, or 40 cents per share, a
Excluding items, the company earned 87 cents per share in
the latest quarter, beating the analysts' average estimate of 83
cents per share.
Shares of the company were trading up 23 percent at $164.34
in morning trading on Thursday on the Nasdaq. The stock hit a
life-high of $169.98 earlier.
(Reporting by Vrinda Manocha in Bangalore; Editing by Savio