and Positive Topline Data from ALXN1210 Phase 3 PNH Switch Study
1Q18 Total Revenues of $930.9 Million, a 7 Percent Increase Over 1Q17 and a 7 Percent Volume Increase
1Q18 GAAP Diluted EPS of $1.11 Per Share, a 48 Percent Increase Over 1Q17; Non-GAAP Diluted EPS of $1.68 Per Share, a 22 Percent Increase Over 1Q17
Strong Launch for Soliris® in Patients with AchR Antibody-Positive Generalized Myasthenia Gravis (gMG)
Positive Topline Data from ALXN1210 Phase 3 PNH Naive and Switch Studies; Regulatory Submissions Planned in the U.S. and EU in Mid-2018
Announced Tender Offer to Acquire Wilson Therapeutics as First Step in Rebuilding Clinical Pipeline
Guidance Updated to Reflect Strength of the Business and Preliminary Financial Impact of Announced Tender Offer for Wilson Therapeutics
NEW HAVEN, Conn., April 26, 2018- Alexion Pharmaceuticals, Inc. (NASDAQ: ALXN) today announced financial results for the first quarter of 2018. Total revenues in the first quarter were $930.9 million, a 7 percent increase compared to the same period in 2017. First quarter 2017 revenues included a benefit of $49.2 million due to both the recognition of deferred revenue and timing of orders from certain non-U.S. markets that access Alexion's products through a tender process. The benefit of foreign currency on total revenues year-over-year was 2 percent or $13.7 million, net of hedging activities. On a GAAP basis, diluted earnings per share (EPS) in the quarter was $1.11 per share, a 48 percent increase versus the prior year. Non-GAAP diluted EPS for the first quarter of 2018 was $1.68 per share, a 22 percent increase versus the prior year.
"In the first quarter of 2018 we had strong momentum in our complement and metabolic portfolios. We continue to see robust underlying growth of Soliris and I am particularly pleased with the U.S. launch in patients with gMG. In addition, Strensiq remains a key driver of growth as we continue to serve new patients with HPP," said Ludwig Hantson, Chief Executive Officer of Alexion. "Along with growing our in-line business, we announced positive topline results from both the ALXN1210 Phase 3 PNH Naive and Switch studies, and executed on our disciplined business development plan with the anticipated acquisition of Wilson Therapeutics to begin to rebuild the clinical pipeline. We are delivering on our 2018 objectives to drive sustainable long-term growth and I look forward to providing updates on our progress throughout the year."
The following information was filed by Alexion Pharmaceuticals, Inc. (ALXN) on Thursday, April 26, 2018 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.
View differences made from one quarter to another to evaluate Alexion Pharmaceuticals, Inc.'s financial trajectory
Compare this 10-Q Quarterly Report to its predecessor by reading our highlights to see what text and tables were removed, and by Alexion Pharmaceuticals, Inc..