•2Q20 total revenues of $1,444.6 million, a 20% increase over 2Q19
•2Q20 GAAP diluted EPS of $(4.84); non-GAAP diluted EPS of $3.11
•Achieved goal of establishing ULTOMIRIS® (ravulizumab-cwvz) as new standard of care in PNH with more than 70% patient conversion from SOLIRIS® (eculizumab) in U.S.
•Diversified commercial-stage portfolio with acquisition of Portola and addition of ANDEXXA® [coagulation factor Xa (recombinant), inactivated-zhzo]
•Received EU approval for ULTOMIRIS in atypical hemolytic uremic syndrome (aHUS) & announced positive Phase 3 data for weekly subcutaneous ULTOMIRIS formulation
•Updated capital allocation strategy with commitment to return $500-$550 million in 2020 & at least 1/3 average annual free cash flow to shareholders from 2021-2023
•Increased revenue and non-GAAP EPS guidance to reflect momentum of the business; GAAP EPS guidance negatively impacted by impairment charges
BOSTON, July 30, 2020 - Alexion Pharmaceuticals, Inc. (NASDAQ:ALXN) today announced financial results for the second quarter of 2020. Total revenues in the second quarter were $1,444.6 million, a 20 percent increase compared to the same period in 2019. The negative impact of foreign currency on total revenues year-over-year was 1 percent, or $15.9 million, inclusive of hedging activities. On a GAAP basis, diluted EPS in the quarter was $(4.84), compared to $2.04 in the prior year. The second quarter of 2020 includes impairment charges of $2,053.3 million primarily relating to the KANUMA intangible asset as a result of the Company's revised strategic view of KANUMA. Non-GAAP diluted EPS for the second quarter of 2020 was $3.11, an 18 percent increase versus the second quarter of 2019.
"Our teams have demonstrated remarkable resilience and agility in their successful navigation of the uncertain COVID-19 pandemic environment. Despite these challenges, we have delivered another strong quarter and continue to advance our LEAD-EXPAND-DIVERSIFY strategy for long-term value creation," said Ludwig Hantson, Ph.D., Chief Executive Officer of Alexion. "As a result of execution and delivery against our objectives, we have entered a new phase of company growth and diversification, which enables us to adjust our capital allocation priorities and return value to shareholders through an expanded stock buyback program. I am incredibly proud of what we have accomplished so far and am confident that we are well positioned to build on this momentum in the second half of the year."
The following information was filed by Alexion Pharmaceuticals, Inc. (ALXN) on Thursday, July 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-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: 0000899866-20-000074 Submitted to the SEC: Thu Jul 30 2020 7:38:22 AM EST Accepted by the SEC: Thu Jul 30 2020 Period: Tuesday, June 30, 2020 Industry: Pharmaceutical Preparations