Alexion Beats on Strong Drug Sales -- Earnings Review
By Cara Lombardo
Alexion Pharmaceuticals (ALXN) reported its fourth-quarter earnings Thursday. Here's what you need to know:
EARNINGS: Alexion reported net income of $30 million, or 13 cents a share. Excluding the impact of the new tax law and one-time items, the company earned $337.6 million or $1.48 a share. Analysts polled by Thomson Reuters expected adjusted earnings of $1.27 a share.
REVENUE: Revenue increased almost 10% to $909.7 million, more than the $880.65 million analysts had expected. Sales of its drug Soliris, which in 2017 gained approval in the U.S., Europe and Japan, grew 6% to $791.9 million. Soliris treats a neuromuscular disease called myasthenia gravis.
TAX CHARGE: Alexion's fourth-quarter results included a $45.8 million one-time charge related to the tax overhaul. The charge includes a transition tax expense and a deferred tax expense, both of which are partially offset by a revaluation of balance sheet taxes.
GUIDANCE: The company guides 2018 revenue of $3.85 billion to $3.95 billion, and adjusted EPS of $6.60 to $6.80. Its revenue in 2017 was $3.55 billion.
Write to Cara Lombardo at firstname.lastname@example.org
(END) Dow Jones Newswires
February 08, 2018 07:07 ET (12:07 GMT)Copyright (c) 2018 Dow Jones & Company, Inc.