Alexion Pharmaceuticals Inc (ALXN) SEC Filing 10-K Annual report for the fiscal year ending Saturday, December 31, 2016

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Alexion Pharmaceuticals, Inc.
Ticker: ALXN CIK: 899866

Alexion Reports Fourth Quarter and Full Year 2016 Results and Provides Financial Guidance for 2017


•	Total Revenues of $3.084 Billion, an 18% Increase Over 2015 and 22% Volume Increase


•	Global Soliris^® Revenue Growth Driven by Steady Number of New Patients with PNH and aHUS


•	Strensiq^® and Kanuma^® Global Launches Progress With New Patients Starting on Treatment


•	Filed Regulatory Submissions for Soliris in Patients with Refractory gMG in the U.S. and Europe


•	ALXN1210 Phase 3 Studies Underway in Patients with PNH and aHUS


•	Alexion Board Increases Authorized Share Repurchase to a Total of $1 Billion

NEW HAVEN, Conn., February 16, 2017-Alexion Pharmaceuticals, Inc. (NASDAQ: ALXN) today announced financial results for the fourth quarter and full year of 2016. Total revenues for the full year of 2016 were $3.084 billion, an 18 percent increase compared to 2015. The negative impact of foreign currency on total revenue year over year was 3 percent or $74 million, net of hedging activities. On a GAAP basis, diluted earnings per share (EPS) for the full year of 2016 was $1.76 per share, compared to $0.67 per share in 2015. Non-GAAP diluted EPS for the full year of 2016 was $4.62 per share. Non-GAAP diluted EPS was $4.65 per share for the full year of 2015, reflecting a reduction of $0.34 per share to conform to the current non-GAAP income tax expense definition.

Total revenues in the fourth quarter grew to $831 million, a 19 percent increase compared to the same period in 2015. The negative impact of foreign currency on total revenue in the fourth quarter was 2 percent or $12 million, net of hedging activities. On a GAAP basis, diluted EPS for the fourth quarter of 2016 was $0.41 per share, compared to $0.29 per share in the fourth quarter of 2015. Non-GAAP diluted EPS for the fourth quarter of 2016 was $1.26 per share. Non-GAAP diluted EPS was $1.04 per share in the fourth quarter of 2015, reflecting a reduction of $0.09 per share to conform to the current non-GAAP income tax expense definition. Both GAAP and non-GAAP results are inclusive of legal, accounting, and other costs associated with the Audit and Finance Committee's completed investigation.

"In 2016 the global Alexion team delivered on our patient-centered objectives as we grew our leadership in complement by serving more patients with PNH and aHUS, and continued to build our metabolic franchise with the global launches of Strensiq and Kanuma. We also achieved important regulatory milestones towards new indications for Soliris and initiated two registration studies for ALXN1210 to drive our future growth," said David Brennan, Interim Chief Executive Officer of Alexion. "Our 2017 guidance reflects double-digit revenue and EPS growth as we continue to grow our complement and metabolic franchises, prepare for the potential launches of Soliris in refractory gMG, and focus on our highest priority R&D programs."

The following information was filed by Alexion Pharmaceuticals, Inc. (ALXN) on Thursday, February 16, 2017 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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