Alexion raises outlook on greater Soliris sales

Alexion Pharma raises 2012 outlook, expecting greater sales of Soliris as new launch continues

Associated Press

CHESHIRE, Conn. (AP) -- Alexion Pharmaceuticals Inc. raised its 2012 forecasts Wednesday as it began to sell its blood disorder drug Soliris as a treatment for a new condition.

Alexion has been selling Soliris since 2007 as a treatment for paroxysmal nocturnal hemoglobinuria, or PNH, which causes a breakdown of red blood cells and leads to anemia. In late 2011 regulators in the U.S. and European Union approved the drug as a treatment for atypical hemolytic uremic syndrome, or aHUS, which often leads to kidney failure and death.

The company now says its income will be between $1.78 and $1.88 per share, while revenue will be between $1.11 billion and $1.13 billion. It previously projected income of $1.65 to $1.75 per share and revenue of $1.07 billion to $1.09 billion.

FactSet says analysts were expecting net income of $1.80 per share and $1.09 billion in revenue, on average.

Alexion's quarterly net income grew 4 percent, to $36.3 million from $34.7 million. On a per-share basis, income held steady at 18 cents because of a greater number of shares outstanding in the latest quarter. Alexion said it earned 47 cents per share excluding one-time items related to the company's acquisition of Enobia Pharma Corp., an increase in non-cash taxes, and other charges. Its revenue grew 48 percent, to $274.7 million from $185.7 million.

Analysts were forecasting income of 37 cents per share and $262.9 million in revenue, on average.

Shares of Alexion Pharmaceuticals rose $2.52, or 2.6 percent, to $100.14 in midday trading.

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