Alexion profits soar in 2Q

Alexion Pharmaceuticals Inc. reported second quarter net profit of $95.9 million, or 48 cents per share, up 164.5 percent from $36.3 million, or 18 cents per share in the same quarter, the company said Thursday. More

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Biotechnology

Alexion profits soar in 2Q

COURTESY ALEXION
ALEXION PHARMACEUTICALS saw second-quarter earnings soar in 2013 on strong sales of its drug Soliris
Posted 7/25/13

SMITHFIELD - Alexion Pharmaceuticals Inc. reported second quarter net profit of $95.9 million, or 48 cents per share, up 164.5 percent from $36.3 million, or 18 cents per share in the same quarter last year, the company said Thursday.

Alexion credited increasing numbers of new patients using its drug Soliris with the profit increase. Soliris treats paroxysmal nocturnal hemoglobinuria, a rare, life-threatening blood disorder, and is the sole revenue source for the company.

Revenue came in at $370.1 million for the three months ended June 30, up 34.7 percent from 2012.

The Cheshire, Conn.-based company saw $709 million in revenue for the six months ended June 30, compared to $519.4 million for the same period a year earlier. Net income for the six months was $178.1 million, up from $81.7 million in 2012, a 118.1 percent gain.

Alexion reported second quarter non-GAAP earnings of $147.2 million, or 73 cents per share, up 56 percent from the same period last year.

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