Alexion Pharmaceutical Thursday reported 14% increase in revenue for the second quarter, riding on a 16% volume hike. The company, however, swung to a loss of $2.05 per share from a profit of $0.73 per share a year ago as operating expenses doubled due to certain charges related to the acquisition of Wilson Therapeutics. Excluding these charges, earnings improved 33% to $2.07 per share.
Revenue for the quarter stood at $1.05 billion. The results surpassed projections set by analysts.
“We have advanced our ALXN1210 programs with the goal of improving the standard of care for patients and have filed regulatory submissions for PNH in the U.S. and EU, and pending regulatory approval, plan to launch next year.” CEO Ludwig Hantson said in a statement.
During the quarter, sales of the company’s flagship Soliris drug, used in the treatment of rare blood-related diseases, increased 10% to $898.2 million. Volume improved 11% year-over-year.
Elated by the strong performance in the second quarter, the Connecticut-based company raised its revenue and income expectations for the full year. The company now expects non-GAAP earnings in the range of $7.00 to $7.15 per share on a total revenue of $3.98 billion to $4.01 billion for FY18.
Earlier, the company had projected non-GAAP earnings of $6.75 to $6.90 per share on revenue of $3.925 billion to $3.985 billion. Alexion stock gained over 2% in pre-market trading on Thursday.
Related: Alexion Q1 results (Click to enlarge image)
Most Popular
Important takeaways from Paychex’s (PAYX) Q2 2025 earnings report
Paychex Inc. (NASDAQ: PAYX), a leading provider of human resources and payroll services, reported better-than-expected revenue and profit for the second quarter of fiscal 2025, sending the stock higher soon
Lamb Weston’s (LW) challenges may not end soon, a few points to note
Shares of Lamb Weston Holdings, Inc. (NYSE: LW) turned red in mid-day trade on Friday. The stock has dropped 19% in the past one month. The company delivered disappointing results
CCL Earnings: Carnival Corp. Q4 2024 revenue rises 10%
Carnival Corporation & plc. (NYSE: CCL) Friday reported strong revenue growth for the fourth quarter of 2024. The cruise line operator reported a profit for Q4, compared to a loss