3Q17 Total Revenues of $859 Million, an 8 Percent Increase Year-Over-Year
3Q17 GAAP EPS of $0.35 Per Share, a 17 Percent Decrease Year-Over-Year, and Non-GAAP EPS of $1.44 Per Share, a 17 Percent Increase Year-Over-Year
Received FDA Approval for Soliris for the Treatment of Patients with Generalized Myasthenia Gravis (gMG) and European Commission Approval for Soliris for the Treatment of Patients with Refractory gMG
Completed Enrollment in the Phase 3 Trial of Eculizumab in Patients with Neuromyelitis Optica Spectrum Disorder
Completed Enrollment in the ALXN1210 Phase 3 PNH Naive and Switch Studies
Announces Plans to Initiate a Single, PK-based Phase 3 Study of ALXN1210 Delivered Subcutaneously Once Per Week to Support Registration in PNH and aHUS
Provides Updated 2017 Guidance
NEW HAVEN, Conn., October 26, 2017- Alexion Pharmaceuticals, Inc. (NASDAQ: ALXN) today announced financial results for the third quarter of 2017. Total revenues in the quarter were $859 million, an 8 percent increase compared to the same period in 2016. Second quarter revenue benefited from approximately $35 million in favorable timing of orders, which directly impacted quarter-over-quarter and year-over-year growth in the third quarter of 2017. The negative impact of foreign currency on total revenue year-over-year was less than 1 percent, or 5 million, net of hedging activities. On a GAAP basis, diluted earnings per share (EPS) in the quarter was $0.35 per share, inclusive of $164 million of expenses related to the previously announced restructuring, compared to $0.42 per share in the third quarter of 2016. Non-GAAP diluted EPS for the third quarter of 2017 was $1.44 per share, compared to $1.23 per share in the third quarter of 2016.
"Alexion delivered strong commercial, R&D, and financial performance in the third quarter of 2017. We received regulatory approvals for the third indication for Soliris in the U.S. and European Union, strengthened our patent portfolio with three new U.S. patents for Soliris that extend protection into 2027, reached new funding agreements in key European countries for Strensiq and Kanuma, and advanced the ALXN1210 clinical development programs," said Ludwig Hantson, Chief Executive Officer of Alexion. "We also announced a restructuring that aligns the global organization with our strategy and we expect to deliver significant savings. We enter the fourth quarter of 2017 in a position of strength and are confident in our strategic plan to build long-term sustainable value for shareholders."
The following information was filed by Alexion Pharmaceuticals, Inc. (ALXN) on Thursday, October 26, 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-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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Ticker: ALXN CIK: 899866 Form Type:10-Q Quarterly Report Accession Number: 0000899866-17-000174 Submitted to the SEC: Thu Oct 26 2017 4:06:12 PM EST Accepted by the SEC: Thu Oct 26 2017 Period: Saturday, September 30, 2017 Industry: Pharmaceutical Preparations