Alexion's Fourth Quarter Beats Expectations, but 2019 Guidance Disappoints on Volume Outlook
Narrow-moat Alexion reported solid fourth-quarter earnings, with total revenue of over $1.1 billion (up 24% from last year) and adjusted net income of $486 million (up 44% from last year) beating both our and analyst expectations. The beat was largely driven by the strong launch of Soliris in generalized myasthenia gravis (gMG), which we expect will be the main driver of growth in 2019 for Soliris in addition to the potential mid-year launch in neuromyelitis optica spectrum disorder (NMOSD), if ...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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