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Alexion Pharmaceuticals Inc ALXN

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Narrow-Moat Alexion Reports Strong Q1 Results; Expect AstraZeneca’s Acquisition To Complete

Karen Andersen, CFA Sector Strategist

Analyst Note

| Karen Andersen, CFA |

Narrow-moat Alexion Pharmaceuticals reported strong first-quarter results, posting total revenue of about $1.6 billion, above FactSet consensus estimates, and representing about 13% growth compared with the previous year. In late 2020, AstraZeneca announced plans to acquire Alexion for $175 per share, and with approval from the U.S. Federal Trade Commission, we expect this deal to complete in the third quarter of 2021 and we therefore are not making any changes to our fair value estimate.

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Company Profile

Business Description

Alexion Pharmaceuticals specializes in developing and marketing drugs for rare, life-threatening medical conditions. Its blockbuster product, Soliris, is approved for paroxysmal nocturnal hemoglobinuria (PNH), atypical hemolytic uremic syndrome (aHUS), generalized myasthenia gravis (gMG), and neuromyelitis optica spectrum disorder (NMOSD). Next-generation Ultomiris is approved in PNH and aHUS. Strensiq and Kanuma target ultrarare metabolic diseases. Alexion's pipeline targets rare diseases with high unmet need in hematology, nephrology, metabolic diseases, neurology, cardiology, and other areas.

121 Seaport Boulevard
Boston, MA, 02210
T +1 475-230-2596
Sector Healthcare
Industry Biotechnology
Most Recent Earnings Mar 31, 2021
Fiscal Year End Dec 31, 2021
Stock Type Aggressive Growth
Employees 3,837