Alexion's Conversion to Ultomiris Ahead of Schedule; Shares Remain Undervalued After Strong 2Q
Narrow-moat Alexion reported solid second-quarter operating results, with total revenue of over $1.2 billion, up 15% from last year. Soliris, now approved for four rare diseases, contributed $981 million in revenue, up 9% from last year. Soliris' double-digit volume growth was offset by pricing headwinds in Canada, which may have a small impact on the rest of the year. Metabolic drugs Strensiq and Kanuma both posted double-digit growth, together contributing $168 million. Following this quarter'...Alexion Pharmaceuticals is a biopharmaceutical company serving patients and families affected by rare diseases through the discovery, development and commercialization of therapies. The company has developed and commercialized two complement inhibitors to treat patients with paroxysmal nocturnal hemoglobinuria and atypical hemolytic uremic syndrome, as well as the complement inhibitor to treat anti-acetylcholine receptor antibody-positive generalized myasthenia gravis and neuromyelitis optica spectrum disorder in patients who are anti-aquaporin-4 antibody positive. In addition, the company has two enzyme replacement therapies for metabolic disorders, hypophosphatasia and lysosomal acid lipase deficiency.
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