ALXN - Embedded Expectations Analysis - 2018 04 30
Alexion Pharmaceuticals, Inc. (ALXN:USA) currently trades near historical lows relative to UAFRS-based (Uniform) Earnings, with a 13.5x Uniform P/E, implying bearish expectations for the firm. Moreover, management has concerns about the 1210 program, guidance, and volumesSpecifically, management may lack confidence in the sustainability of double digit Soliris volume growth after accounting for MG and 1210, and may have concerns about their 1210-adjusted guidance. Moreover, they may lack confidence in the sustainability of revenue improvements in gMG, and may also lack confidence in their PNH and aHUS volume expectations
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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