biotechnology

Without tax benefit, Alexion profit drops in 4Q to $26.5M from $237.1M

IMAGE SOURCE / ALEXION PHARMACEUTICALS INC.
ALEXION PHARMACEUTICALS INC. said fourth quarter profit fell to $26.45 million, or 28 cents per share, from $237.13 million.
Posted 2/10/11

SMITHFIELD - Alexion Pharmaceuticals Inc., the Cheshire, Conn.-based manufacturer of Soliris, a drug used to treat a rare, life-threatening blood disorder, released its fourth-quarter and full-year results Thursday.

Net income for Alexion totaled $97.03 million, or $1.04 per diluted share, compared with 2009 totals of $295.17 million, or $3.26 per share. The company’s previous year results had been helped by a $215.5 million non-recurring tax benefit.

For the full year, product sales were $540.96 million, up from $386.8 million a year earlier.

Fourth-quarter 2010 profit fell to $26.45 million, or 28 cents per diluted share, from $237.13 million, or $2.59 per share, as seen in the fourth quarter of 2009, which is when the company took that $215.5 million tax benefit.

Product sales increased to $155.98 million for the three months ended Dec. 31 from $110.65 million.

In January and February 2011, Alexion used $114 million of available cash for acquisitions. The company announced an upfront cash payment of $3 million – plus contingent payments based on various development, regulatory and commercial milestones - for the purchase of patents and assets from Germany-based Orphatec Pharmaceuticals GmbH related to an investigational therapy for patients with molybdenum cofactor deficiency Type A.

On Jan. 31, Alexion acquired Taligen Therapeutics Inc., a privately-held development-stage biotechnology company based in Cambridge, Mass., for an upfront cash payment of $111 million.

In announcing the results, Alexion highlighted the market performance of Soliris, which is the only drug specifically indicated for the treatment of patients with paroxysmal nocturnal hemoglobinuria, a rare, debilitating and life-threatening blood disease.

Calendar
PBN Hosted
Events

Estate and Corporate Income Taxes are changing next year, and business owners and executives should know the details. The PBN Summit on November 6th will provide those details and more - including how much Obamacare's Employer Mandate could cost.
Advertisement
Purchase Data
Book of Lists
Lists
Book of Lists cover
PBN's annual Book of Lists has been an essential resource for the local business community for almost 30 years. The Book of Lists features a wealth of company rankings from a variety of fields and industries, including banking, health care, real estate, law, hospitality, education, not-for-profits, technology and many more.
Data icons
Data can be purchased as single lists, in either Excel or PDF format; the entire database of the published book, in Excel format; or a printed copy of the Book of Lists.
  • Purchase an e-File of a single list
  •  
  • Purchase an e-File of the entire Book of Lists database
  •  
  • Purchase a printed copy of the Book of Lists
  •  
    National
    Local
    Latest News
    Advertisement