Alexion Beats on Strong Drug Sales -- Earnings Review

02/08/18 07:07 AM EST
   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 cara.lombardo@wsj.com

 

(END) Dow Jones Newswires

February 08, 2018 07:07 ET (12:07 GMT)

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