CHESHIRE, Conn. ( TheStreet) -- Alexion Pharmaceuticals (ALXN) turned in another strong quarter of sales for its treatment of rare diseases, topping Wall Street's expectations and raising guidance for the remainder of the year.
Net product sales of Soliris totaled $370.1 million in the June quarter, and increase of 35 percent from the same period in 2012. This beat the consensus estimate of $366 million.
Alexion's Soliris is approved to treat to paroxysmal nocturnal hemoglobinuria (PNH), a rare blood disorders, and atypical hemolytic uremic syndrome (aHUS), a rare genetic disorder that causes blood clots in small blood vessels. Soliris is one of the most expensive medicines sold today, with an annual price tag of about $500,000.
Revenue guidance for the remainder of the year -- derived from Soliris sales -- was raised to a range of $1.5 billion to $1.52 billion, Alexion said. Current analyst consensus for Alexion revenue is set at $1.51 billion.Alexion also said adjusted earnings for the year will be in the range of $2.97 to $3.02 per share versus current consensus of $2.95 per share. Alexion made no mention in its earnings release about the speculation of an acquisition interest by Roche (RHHBY). In comments made today during its own earnings announcement, Roche CEO Severin Schwan said the company continues to focus on "bolt on acquisitions," but made no specific mention of an interest in acquiring Alexion. There was no discussion of whether or not an Alexion bid, which would cost upwards of $25-30 billion, would be considered a "bolt on" deal. Alexion adjusted net income in the June quarter was $147.2 million, or 73 cents per share, compared to net income of $94.1 million, or 47 cents per share, in the year-ago quarter. -- Reported by Adam Feuerstein in Boston. Follow @AdamFeuerstein
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV