April 24 Alexion Pharmaceuticals Inc
reported stronger-than-expected adjusted net earnings due to
robust sales of its sole product on the market, Soliris, and it
raised its full-year profit forecast for the second time in less
than two months.
The drugmaker's shares rose about 5 percent before the bell.
The company raised its full-year adjusted earnings per share
guidance to $4.75-$4.85 from $4.37-$4.47, which it forecast on
Soliris, which costs about $440,000 per patient a year, is
the only approved treatment for two potentially fatal conditions
that can damage vital organs including the kidneys, heart and
Alexion's net income rose to $159.4 million, or 79 cents per
share, in the first quarter ended March 31, from $82.2 million,
or 41 cents per share, a year earlier.
Excluding special items, earnings were $1.53 per share.
Net product sales rose about 67 percent to $566.6 million,
which includes the reimbursement of prior-year Soliris shipments
related to an $87.8 million agreement with the French
Analysts had expected earnings of $1.26 per share on revenue
of $560.2 million, according to Thomson Reuters I/B/E/S.
Cheshire, Connecticut-based Alexion's shares were at $160.02
in premarket trading after closing at $152.23 on the Nasdaq on
(Reporting by Natalie Grover in Bangalore; Editing by Maju