Alexion Reports 1Q Profit On Soliris Sales

CHESHIRE, Conn. (AP) — Alexion Pharmaceuticals Inc. said Thursday sales of its blood disorder treatment again pushed the company to a profit, with first-quarter results topping Wall Street expectations.

Soliris is the company's only marketed product. It treats a rare chronic disease called paroxysmal nocturnal hemoglobinuria, which causes a breakdown of red blood cells and leads to anemia.

During the first quarter, the company earned $14.5 million, or 16 cents per share, compared with a loss of $4.2 million, or 6 cents per share, during the same period a year ago. Revenue, which all comes from Soliris sales, nearly doubled, reaching $81.3 million, up from $45.6 million a year earlier.

Analysts polled by Thomson Reuters expected profit of 14 cents per share on revenue of $82 million.

Soliris was launched in the U.S. and some European Union countries in 2007.

Looking ahead, Alexion reaffirmed it outlook for 2009. It expects profit, excluding charges, between $1 and $1.05 per share on revenue between $360 million to $375 million. Analysts expect profit of 76 cents per share on revenue of $375.5 million.

Shares of Alexion fell $1.60, or 4.5 percent, to $33.71 in midday trading. The stock has traded between $28.16 and $47.95 over the past 52 weeks.