Alexion Pharmaceuticals Inc. (ALXN: Quote) reported fourth-quarter GAAP net income of $81.0 million, or $0.40 per share up from $48.2 million, or $0.25 per share in the year ago quarter.
Non-GAAP net income for the quarter was $122.3 million, or $0.60 per share, compared to non-GAAP net income of $80.5 million, or $0.41 per share last year. Analysts polled by Thomson Reuters expected the company to report earnings of $0.53 per share for the quarter. Analysts' estimates typically exclude special items.
Net product sales of Soliris (eculizumab) was $320.5 million, compared to $227.6 million for the same period in 2011. Twenty analysts had consensus revenue estimate of $316.49 million for the quarter.
The year-on-year increase in net product sales of 41 percent reflected steady additions of new patients with paroxysmal nocturnal hemoglobinuria (PNH) globally, and an increasing number of new patients with atypical Hemolytic Uremic Syndrome (aHUS) commencing Soliris treatment.
In 2013, worldwide net product sales are expected to be within a range of $1.490 billion to $1.505 billion. On a non-GAAP basis, R&D expenses are expected to be in the range of $285 to $295 million, and SG&A expenses in the range of $425 to $435 million.. Based on a forecast of approximately 205 million diluted shares outstanding, Alexion is providing guidance of $2.82 to $2.92 for non-GAAP earnings per share for the year.
Analysts expect the company to report earnings of $2.81 per share on revenues of $1.49 billion for fiscal 2013.
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by RTT Staff Writer
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