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Alexion Pharmaceuticals, Inc. (ALXN) SEC Filing 10-K Annual report for the fiscal year ending Thursday, December 31, 2020

SEC Filings

Alexion Pharmaceuticals, Inc.

CIK: 899866 Ticker: ALXN



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Alexion Reports Fourth Quarter and Full Year 2020 Results

4Q20 total revenues of $1,591.8 million, a 15% increase over 4Q19

4Q20 GAAP diluted EPS of $2.42; non-GAAP diluted EPS of $2.96

Announced agreement to be acquired by AstraZeneca; transaction expected to close in Q3 2021

Received EU approval for ULTOMIRIS® (ravulizumab) 100 mg/mL higher concentration formulation in paroxysmal nocturnal hemoglobinuria (PNH) & atypical hemolytic uremic syndrome (aHUS)

Continued advancement of pipeline, including initiation of three Phase 3 development programs and two novel IND filings in Q4 2020

BOSTON, February 4, 2021
- Alexion Pharmaceuticals, Inc. (NASDAQ:ALXN) today announced financial results for the fourth quarter and full year of 2020. Total revenues for the full year of 2020 were $6,069.9 million, a 22 percent increase compared to the same period in 2019. The negative impact of foreign currency on total revenues year-over-year was 1 percent, or $52.0 million, inclusive of hedging activities. On a GAAP basis, diluted EPS for the full year of 2020 was $2.72, compared to $10.70 in the prior year. Full year 2020 includes impairment charges of $2,053.3 million primarily relating to the KANUMA intangible asset and a related deferred tax benefit of $377.3 million. Full year 2019 includes one-time tax benefits of $382.2 million related to intra-entity asset transfers of intellectual property. Non-GAAP diluted EPS for the full year of 2020 was $12.51, a 19 percent increase versus the prior year.

Total revenues in the fourth quarter were $1,591.8 million, a 15 percent increase compared to the same period in 2019. The positive impact of foreign currency on total revenues year-over-year was less than 1 percent, or $0.1 million, inclusive of hedging activities. On a GAAP basis, diluted EPS in the quarter was $2.42, compared to $4.00 in the prior year, inclusive of one-time tax benefits of $382.2 million related to intra-entity asset transfers of intellectual property in the fourth quarter of 2019. Non-GAAP diluted EPS for the fourth quarter of 2020 was $2.96, a 9 percent increase versus the fourth quarter of 2019.

"In 2020, we delivered on our LEAD-EXPAND-DIVERSIFY strategy - progressing our commercial portfolio with multiple global regulatory approvals, and further building our pipeline, which now spans more than 20 development programs. I am so proud of our team's remarkable execution and perseverance amidst the uncertainties of COVID-19," said Ludwig Hantson, Ph.D., Chief Executive Officer of Alexion. "We enter 2021 with significant momentum, a strong foundation and a promising future. I am confident we are well positioned to build on our success and further advance our mission of delivering life-changing medicines to people with rare diseases and devastating conditions in the coming months and once we become part of AstraZeneca."

Full Year 2020 Financial Highlights
Net product sales were $6,069.1 million, compared to $4,990.0 million in 2019.

SOLIRIS net product sales were $4,064.2 million, compared to $3,946.4 million in 2019, representing a 3 percent increase.
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The following information was filed by Alexion Pharmaceuticals, Inc. (ALXN) on Thursday, February 4, 2021 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Document And Entity Information
Consolidated Balance Sheets (Parenthetical)
Consolidated Balance Sheets Consolidated Balance Sheets
Consolidated Statement Of Comprehensive Income
Consolidated Statement Of Comprehensive Income (Parentheticals)
Consolidated Statements Of Operations
Statement Of Cash Flows
Statement Of Shareholders' Equity
Accounts Payable And Accrued Expenses
Accounts Payable And Accrued Expenses (Schedule Of Accrued Expenses) (Details)
Accounts Payable And Accrued Expenses (Tables)
Acquisitions
Acquisitions (Acquisition Costs) (Details)
Acquisitions (Narrative) (Details)
Acquisitions (Pro Forma Financial Information Of Combined Results Of Operations) (Details)
Acquisitions (Reconciliation Of Upfront Payments To Total Purchase Price) (Details)
Acquisitions (Summary Of Total Consideration) (Details)
Acquisitions (Syntimmune) (Details)
Acquisitions (Tables)
Business Overview And Summary Of Significant Accounting Policies
Business Overview And Summary Of Significant Accounting Policies (Earnings Per Common Share) (Details)
Business Overview And Summary Of Significant Accounting Policies (Inventories) (Details)
Business Overview And Summary Of Significant Accounting Policies (Narrative) (Details)
Business Overview And Summary Of Significant Accounting Policies (Policies)
Business Overview And Summary Of Significant Accounting Policies (Receivables And Contract Liabilities) (Details)
Business Overview And Summary Of Significant Accounting Policies (Tables)
Commitments And Contingencies
Commitments And Contingencies (Narrative) (Details)
Debt
Debt (Details)
Debt (Schedule Of Debt) (Details)
Debt (Tables)
Debt - Schedule Of Maturities Of Long-Term Debt (Details)
Derivative Instruments And Hedging Activities
Derivative Instruments And Hedging Activities (Narrative) (Details)
Derivative Instruments And Hedging Activities (Schedule Of Cash Flow Hedges In Aoci) (Details)
Derivative Instruments And Hedging Activities (Schedule Of Fair Value Of Outstanding Derivatives) (Details)
Derivative Instruments And Hedging Activities (Schedule Of Interest Rate Derivatives) (Details)
Derivative Instruments And Hedging Activities (Schedule Of Offsetting Assets And Liabilities) (Details)
Derivative Instruments And Hedging Activities (Schedule Of Other Comprehensive Income And Earnings From Foreign Exchange Contracts) (Details)
Derivative Instruments And Hedging Activities (Tables)
Fair Value Measurement
Fair Value Measurement (Narrative) (Details)
Fair Value Measurement (Schedule Of Acquisition-Related Contingent Consideration) (Details)
Fair Value Measurement (Schedule Of Assets And Liabilites Measured At Fair Value) (Details)
Fair Value Measurement (Tables)
Income Taxes
Income Taxes (Narrative) (Details)
Income Taxes (Reconciliation Of The Statutory U.S. Federal Income Tax Rate To Effective Income Tax Rate) (Details)
Income Taxes (Reconciliation Of Unrecognized Tax Benefits) (Details)
Income Taxes (Schedule Of Components Of Deferred Tax Assets And Liabilities) (Details)
Income Taxes (Schedule Of Components Of Income Tax Provision (Benefit)) (Details)
Income Taxes (Schedule Of Income Tax Provision (Benefit) On Income Before Income Taxes) (Details)
Income Taxes (Summary Of Valuation Allowance) (Details)
Income Taxes (Tables)
Intangible Assets And Goodwill
Intangible Assets And Goodwill (Narrative) (Details)
Intangible Assets And Goodwill (Schedule Of Changes In The Carrying Amount Of Goodwill) (Details)
Intangible Assets And Goodwill (Schedule Of Intangible Assets And Goodwill) (Details)
Intangible Assets And Goodwill (Tables)
Leases
Leases (Tables)
Leases - Cash Flow Information (Details)
Leases - Lease Additional Information (Details)
Leases - Lease Assets And Liabilities (Details)
Leases - Lease Cost (Details)
Leases - Lease Maturity (Details)
Leases - Narrative (Details)
Marketable Securities
Marketable Securities (Available-For-Sale Securities By Classification In Balance Sheet) (Details)
Marketable Securities (Narrative) (Details)
Marketable Securities (Realized Gains And Losses) (Details)
Marketable Securities (Summary Of Avaiable-For-Sale Securities Held) (Details)
Marketable Securities (Tables)
Other Comprehensive Income And Accumulated Other Comprehensive Income (Notes)
Other Comprehensive Income And Accumulated Other Comprehensive Income (Reclassifications Out Of Accumulated Other Comprehensive Income) (Details)
Other Comprehensive Income And Accumulated Other Comprehensive Income (Schedule Of Accumulated Other Comprehensive Income (Loss)) (Details)
Other Comprehensive Income And Accumulated Other Comprehensive Income (Tables)
Other Investments
Other Investments (Details)
Property, Plant And Equipment, Net
Property, Plant And Equipment, Net (Details)
Property, Plant And Equipment, Net (Tables)
Quarterly Financial Information (Unaudited)
Quarterly Financial Information (Unaudited) (Details)
Quarterly Financial Information (Unaudited) (Tables)
Restructuring And Related Expenses
Restructuring And Related Expenses (Details)
Restructuring And Related Expenses (Tables)
Restructuring And Related Expenses - Reconciliation Of Restructuring Reserve (Details)
Segment Information
Segment Information (Tables)
Segment Information - Net Product Sales (Details)
Share-Based Compensation
Share-Based Compensation (Narrative) (Details)
Share-Based Compensation (Schedule Of Components Of Allocated Share-Based Compensation Expense And Capitalization Of Share Based Compensation Expense) (Details)
Share-Based Compensation (Schedule Of Status Of Non-Vested Restricted Stock) (Details)
Share-Based Compensation (Schedule Of Status Of Stock Option Plans) (Details)
Share-Based Compensation (Tables)
Stockholders' Equity
Stockholders' Equity (Details)
Subsequent Events
Subsequent Events (Details)
Ticker: ALXN
CIK: 899866
Form Type: 10-K Annual Report
Accession Number: 0000899866-21-000014
Submitted to the SEC: Mon Feb 08 2021 7:37:01 AM EST
Accepted by the SEC: Mon Feb 08 2021
Period: Thursday, December 31, 2020
Industry: Pharmaceutical Preparations

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