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Alexion Reports Third Quarter 2013 Results

Alexion Pharmaceuticals, Inc. (NASDAQ:ALXN) today announced financial results for the three and nine months ended September 30, 2013. The Company reported net product sales of Soliris ® (eculizumab) of $400.4 million in the third quarter of 2013, an increase of 36 percent from the same period in 2012.

Revenue performance for the quarter 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 the US and Europe.

“In the third quarter, we continued our strong and ongoing global performance with Soliris in PNH and were pleased to provide Soliris to a steadily growing number of new patients with aHUS in the United States as well as an increasing number of patients with aHUS in Europe. In addition, we were pleased to receive our aHUS approval in Japan,” said Leonard Bell, M.D., Chief Executive Officer of Alexion. “Key pipeline initiatives, including our asfotase alfa program in HPP, our Soliris programs in kidney transplant and our cPMP replacement therapy program, reached new milestones in Q3. In Q4, we are further expanding our commercial and clinical initiatives as we prepare for further growth in 2014.”

Third Quarter 2013 Financial Results: Alexion's non-GAAP operating results are GAAP operating results adjusted for the impact of certain items described below. A full reconciliation of GAAP to non-GAAP financial results is included later in this press release.

Third Quarter 2013 Non-GAAP Financial Results: The Company reported non-GAAP net income of $167.9 million, or $0.83 per share, in the third quarter of 2013, compared to non-GAAP net income of $120.7 million, or $0.60 per share, in the third quarter of 2012.

Alexion's non-GAAP operating expenses for Q3 2013 were $178.8 million, compared to $130.9 million for Q3 2012. Non-GAAP research and development (R&D) expenses for Q3 2013 were $68.9 million, compared to $50.6 million for Q3 2012. Non-GAAP selling, general and administrative (SG&A) expenses for Q3 2013 were $109.9 million, compared to $80.3 million for Q3 2012.

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