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Alexion Pharmaceuticals, Inc. (ALXN) SEC Filing 10-Q Quarterly report for the period ending Sunday, June 30, 2019

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Alexion Pharmaceuticals, Inc.

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CIK: 899866 Ticker: ALXN




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Alexion Reports Second Quarter 2019 Results

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2Q19 total revenues of $1,203.3 million, a 15 percent increase over 2Q18 and a 23 percent volume increase

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2Q19 GAAP diluted EPS of $2.04; non-GAAP diluted EPS of $2.64

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Received 3 regulatory approvals - SOLIRIS® (eculizumab) for adults with neuromyelitis optica spectrum disorder (NMOSD) in the U.S., and ULTOMIRIS® (ravulizumab-cwvz) for adults with paroxysmal nocturnal hemoglobinuria (PNH) in Japan and the EU

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ULTOMIRIS for atypical hemolytic uremic syndrome (aHUS) under priority review with U.S. FDA

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Total revenues and EPS guidance increased to reflect strength of the business and continued growth

BOSTON, July 24, 2019 - Alexion Pharmaceuticals, Inc. (NASDAQ:ALXN) today announced financial results for the second quarter of 2019. Total revenues in the second quarter were $1,203.3 million, a 15 percent increase compared to the same period in 2018. The negative impact of foreign currency on total revenues year-over-year was 1 percent, or $15.1 million, inclusive of hedging activities. On a GAAP basis, diluted EPS in the quarter was $2.04, a 200 percent increase versus the prior year. The second quarter of 2018 included $803.7 million of expense related to the value of the in-process research and development asset acquired in connection with our acquisition of Wilson Therapeutics AB. Non-GAAP diluted EPS for the second quarter of 2019 was $2.64, a 28 percent increase versus the second quarter of 2018.

"We delivered another strong quarter, with continued growth driven by the successful U.S. launches of ULTOMIRIS in PNH and SOLIRIS in gMG. We received three regulatory approvals over the last month, including SOLIRIS for NMOSD in the U.S., and ULTOMIRIS for PNH in Japan and the EU. In addition, the FDA granted priority review for ULTOMIRIS in atypical HUS," said Ludwig Hantson, Ph.D., Chief Executive Officer of Alexion. "We are well positioned to continue our momentum in the second half of 2019, strengthening our four durable franchises in hematology and nephrology, neurology, metabolics and FcRn, advancing and expanding our pipeline, and serving more people living with rare diseases than ever before."
 
Second Quarter 2019 Financial Highlights

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Total net product sales were $1,202.5 million in the second quarter of 2019, compared to $1,044.7 million in the second quarter of 2018.

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SOLIRIS® (eculizumab) net product sales were $980.8 million, compared to $898.2 million in the second quarter of 2018, representing a 9 percent increase. SOLIRIS volume increased 17 percent year-over-year. SOLIRIS net product sales for the second quarter 2019 included a $31.6 million reduction to revenue related to a recent judicial order on SOLIRIS pricing in Canada. The reduction in revenue includes the impact for the period from September 2017 to June 2019.

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The following information was filed by Alexion Pharmaceuticals, Inc. (ALXN) on Wednesday, July 24, 2019 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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Inside Alexion Pharmaceuticals, Inc.'s 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information Document
Restructuring And Related Expenses (Schedule Of Restructuring And Related Costs) (Details)
Condensed Consolidated Balance Sheets
Condensed Consolidated Balance Sheets (Parenthetical)
Condensed Consolidated Statements Of Cash Flows
Condensed Consolidated Statements Of Changes In Stockholder's Equity Statement
Condensed Consolidated Statements Of Comprehensive Income (Parenthetical)
Condensed Consolidated Statements Of Comprehensive Income Statement
Condensed Consolidated Statements Of Operations
(Restructuring Reserve Roll Forward) (Details)
Acquisitions
Acquisitions (Narrative) (Details)
Acquisitions (Summary Of Total Consideration) (Details)
Acquisitions (Tables)
Basis Of Presentation And Principles Of Consolidation
Basis Of Presentation And Principles Of Consolidation Basis Of Presentation And Principles Of Consolidation (Details)
Business
Commitments And Contingencies
Commitments And Contingencies (Narrative) (Details)
Debt
Debt (Details)
Defined Benefit Plans
Derivative Instruments And Hedging Activities
Derivative Instruments And Hedging Activities (Narrative) (Details)
Derivative Instruments And Hedging Activities (Offsetting Assets And Liabilities) (Details)
Derivative Instruments And Hedging Activities (Schedule Of Fair Value Of Outstanding Derivatives) (Details)
Derivative Instruments And Hedging Activities (Schedule Of Interest Rate Contracts) (Details)
Derivative Instruments And Hedging Activities (Schedule Of Other Comprehensive Income And Earnings From Foreign Exchange Contracts) (Details)
Derivative Instruments And Hedging Activities (Tables)
Earnings Per Common Share
Earnings Per Common Share (Narrative) (Details)
Earnings Per Common Share (Summary Of Calculation Of Basic And Diluted Earnings Per Share) (Details)
Earnings Per Common Share (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 (Schedule Of Income Tax Provision And Effective Tax Rate) (Details)
Income Taxes (Tables)
Intangible Assets And Goodwill
Intangible Assets And Goodwill (Narrative) (Details)
Intangible Assets And Goodwill (Schedule Of Intangible Assets And Goodwill) (Details)
Intangible Assets And Goodwill (Tables)
Inventories
Inventories (Details)
Inventories (Tables)
Leases
Leases (Tables)
Leases - Finance And Operating Lease Liability Maturity (Details)
Leases - Lease Additional Information (Details)
Leases - Lease Assets And Liabilities (Details)
Leases - Lease Cash Flow Information (Details)
Leases - Lease Related Costs (Details)
Leases - Narrative (Details)
Marketable Securities
Marketable Securities (Available-For-Sale Debt Securities By Contractual Maturity) (Details)
Marketable Securities (Available-For-Sale Investments By Classification In Balance Sheet) (Details)
Marketable Securities (Narrative) (Details)
Marketable Securities (Summary Of Securities Held) (Details)
Marketable Securities (Tables)
Other Comprehensive Income And Accumulated Other Comprehensive Income
Other Comprehensive Income And Accumulated Other Comprehensive Income (Changes In Aoci) (Details)
Other Comprehensive Income And Accumulated Other Comprehensive Income (Significant Reclassifications From Aoci) (Details)
Other Comprehensive Income And Accumulated Other Comprehensive Income (Tables)
Other Investments
Other Investments (Details)
Restructuring And Related Expenses
Restructuring And Related Expenses (Narrative) (Details)
Restructuring And Related Expenses (Tables)
Revenue Recognition
Revenue Recognition (Disaggregation Of Revenue By Product And Geographical Region) (Details)
Revenue Recognition (Summary Of Receivables And Contract Liabilities From Contracts) (Details)
Revenue Recognition (Tables)
Stockholders' Equity
Stockholders' Equity (Details)
Ticker: ALXN
CIK: 899866
Form Type: 10-Q Quarterly Report
Accession Number: 0000899866-19-000087
Submitted to the SEC: Wed Jul 24 2019 4:00:01 AM EST
Accepted by the SEC: Wed Jul 24 2019
Period: Sunday, June 30, 2019
Industry: Pharmaceutical Preparations

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