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Alexion (ALXN) Tops Q1 Earnings and Revenues Beat Estimates

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Alexion Pharmaceuticals, Inc.  focuses on the development and commercialization of life-transforming drugs for treating patients suffering from ultra-rare disorders. Soliris approved for paroxysmal nocturnal hemoglobinuria (PNH) and atypical hemolytic uremic syndrome is the key product of this New Haven, CT-based company. In this scenario, investors focus should remain on Soliris performance.

Under its metabolic franchise, the company markets Strensiq for the treatment of patients with pediatric-onset hypophosphatasia (HPP) and Kanuma for the treatment of patients with lysosomal acid lipase deficiency (LAL-D).

The company’s track record has been impressive. Over the last four quarters, the company has beaten estimates on all four occasions. Overall, Alexion has posted an average positive earnings surprise of 17.09% for the trailing four quarters.

We have highlighted some of the key stats from this just-revealed announcement below:

Earnings: Alexion surpassed earnings expectations in the first quarter of 2019. Our consensus called for EPS of $2.19, and the company reported EPS of $2.39.

Revenue: Revenues, also, beat expectations. Alexion posted revenues of $1.14 billion, compared to our consensus estimate of $1.11 billion.

Key Stats: Soliris sales increased 20% in the quarter to $962 million.  In February 2019, the FDA granted priority review for Soliris for the treatment of Neuromyelitis Optica Spectrum Disorder (NMOSD) and set an action date of June 28, 2019.

2019 Guidance: The company raised its earnings and revenue guidance. The company expects earnings per share to be $9.25 to $9.45 up from its previous guidance of $9.10-$9.30. Alexion projects revenues of$4.68 to $4.75 billion up from the prior outlook of $4.63-$4.70 billion in 2019. The Zacks Consensus Estimate for earnings in 2019 is pegged at $9.31, while for sales it is $4.75 billion.

Share Price Impact: Share price did not show any movement in pre-market trading.

 

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