Alexion reports $165M profit for 2Q

ALEXION PHARMACEUTICALS REPORTED a $165 million profit in the second quarter of 2017. /COURTESY ALEXION
ALEXION PHARMACEUTICALS REPORTED a $165 million profit in the second quarter of 2017. /COURTESY ALEXION

NEW HAVEN, Conn. – Alexion Pharmaceuticals Inc., a company that focuses on developing therapies for patients with devastating and rare diseases, reported a $165 million profit for the second quarter of 2017, a 37.5 percent increase year over year.

Net earnings were 73 cents per diluted share.

The report said the numbers reflected a benefit of approximately $35 million due to favorable timing of orders compared to the company’s prior forecast.

“Alexion delivered strong performance in the second quarter of 2017 while also executing on several initiatives to position the company for the future, including strengthening the Soliris patent portfolio, reaching a funding agreement for Strensiq in England, advancing the late-stage pipeline, enhancing compliance and culture and building a strong leadership team,” Ludwig Hantson, Ceo of Alexion, said in a statement.

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The company highlighted an increase of product sales for its Soliris product, which increased 18 percent year over year to $814 million in the quarter.

The company’s total revenue was $912 million, a 21.1 percent increase from a year prior.

The company also noted its forward-looking plans are designed to return value to its shareholders. “Our strategy for the next phase of growth will focus on our strengths to deliver sustainable long-term performance and increased value for shareholders. We will achieve this by growing our rare-disease business, leveraging our expertise in complement, pursuing disciplined business development to expand the pipeline, and taking steps to optimize our infrastructure and operating model,” said Hantson.

Net sales for Alexion were $912 million in the second quarter of 2017, of which sales in the United States accounted for $399 million.

Total assets for the company was reported to be $13.5 billion.

Chris Bergenheim is the PBN web editor.

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