Alexion Reports Third Quarter 2020 Results
•3Q20 total revenues of $1,588.7 million, a 26% increase over 3Q19
•3Q20 GAAP diluted EPS of $2.62; non-GAAP diluted EPS of $3.24
•Received Japanese approval for ULTOMIRIS® (ravulizumab) in atypical hemolytic uremic syndrome (aHUS)
•Received U.S. approval & positive CHMP opinion for ULTOMIRIS 100 mg/mL higher concentration formulation in paroxysmal nocturnal hemoglobinuria (PNH) & aHUS
•Established ULTOMIRIS as new standard of care in PNH ahead of set goal, with more than 70% patient conversion from SOLIRIS® (eculizumab) in 3 largest markets - U.S., Germany & Japan
•Initiated Phase 3 program for CAEL-101 in AL amyloidosis in collaboration with Caelum Biosciences
•Raised full year guidance, driven by increased revenue guidance of $350 million
BOSTON, October 29, 2020 - Alexion Pharmaceuticals, Inc. (NASDAQ:ALXN) today announced financial results for the third quarter of 2020. Total revenues in the third quarter were $1,588.7 million, a 26 percent increase compared to the same period in 2019. The negative impact of foreign currency on total revenues year-over-year was 2 percent, or $25.5 million, inclusive of hedging activities. On a GAAP basis, diluted EPS in the quarter was $2.62, compared to $2.08 in the prior year. Non-GAAP diluted EPS for the third quarter of 2020 was $3.24, a 16 percent increase versus the third quarter of 2019.
"We have continued to build on our momentum from the first half of the year, delivering another strong quarter despite the ongoing challenges and uncertainty surrounding COVID-19. In the third quarter, we further progressed our LEAD-EXPAND-DIVERSIFY strategy with multiple regulatory approvals, the initiation of new Phase 3 trials and the integration of the Portola team," said Ludwig Hantson, Ph.D., Chief Executive Officer of Alexion. "Our foundation for the future is stronger than ever, and by maintaining our focus on serving patients and delivering for shareholders, I am confident that we will continue to build on our success to date and further advance our mission of delivering life-changing therapies to people with rare diseases and devastating conditions."
Third Quarter 2020 Financial Highlights
•Net product sales were $1,588.3 million in the third quarter of 2020, compared to $1,263.1 million in the third quarter of 2019.
•SOLIRIS net product sales were $1,042.3 million, compared to $990.5 million in the third quarter of 2019, representing a 5 percent increase.
The following information was filed by Alexion Pharmaceuticals, Inc. (ALXN) on Thursday, October 29, 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.