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Alexion Reports Fourth Quarter and Full Year 2019 Results

4Q19 total revenues of $1,384.3 million, a 23 percent increase over 4Q18

4Q19 GAAP diluted EPS of $4.00; non-GAAP diluted EPS of $2.71

Received Japanese approval for SOLIRIS® (eculizumab) for neuromyelitis optica spectrum disorder (NMOSD)

Established ULTOMIRIS® (ravulizumab) as market leader for PNH in U.S., Germany and Japan within first year of launch

Continued strong SOLIRIS gMG and NMOSD launches, making neurology largest franchise in U.S.

Expanded pipeline with 19 clinical-stage development programs planned for 2020 across 10 assets, including 2 Factor D inhibitors, following completion of Achillion acquisition

BOSTON, January 30, 2020 - Alexion Pharmaceuticals, Inc. (NASDAQ:ALXN) today announced financial results for the fourth quarter and full year of 2019. Total revenues for the full year of 2019 were $4,991.1 million, a 21 percent increase compared to 2018. The negative impact of foreign currency on total revenues year-over-year was 1 percent, or $45.1 million, inclusive of hedging activities. On a GAAP basis, diluted EPS for the full year of 2019 was $10.70, inclusive of one-time tax benefits related to intra-entity asset transfers of intellectual property, compared to $0.35 in the prior year, inclusive of $1,183.0 million of expense related to the value of the in-process research and development assets acquired in 2018. Non-GAAP diluted EPS for the full year of 2019 was $10.53, a 33 percent increase versus the prior year.

Total revenues in the fourth quarter were $1,384.3 million, a 23 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 $13.1 million, inclusive of hedging activities. On a GAAP basis, diluted EPS in the quarter was $4.00, inclusive of one-time tax benefits related to intra-entity asset transfers of intellectual property, compared to $(0.20) in the prior year, inclusive of $379.3 million of expense related to the value of the in-process research and development asset acquired in connection with our acquisition of Syntimmune in the fourth quarter of 2018. Non-GAAP diluted EPS for the fourth quarter of 2019 was $2.71, a 27 percent increase versus the fourth quarter of 2018.

"In 2019, we continued to strengthen the foundation of our business by executing on our strategy to lead, expand and diversify. Our key achievements include establishing ULTOMIRIS as the market leader in PNH within the first year of launch, expanding our C5 portfolio to make neurology our largest franchise in the U.S., and further diversifying our pipeline with seven business development deals adding five clinical-stage assets to our portfolio," said Ludwig Hantson, Ph.D., Chief Executive Officer of Alexion. "I am confident we are well positioned for the future and will build on our momentum in 2020, with a continued focus on delivering long-term shareholder value by advancing our mission of developing and delivering transformative medicines for people with rare diseases."
 

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The following information was filed by Alexion Pharmaceuticals, Inc. (ALXN) on Thursday, January 30, 2020 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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