Alexion Pharma Q2 Results Beat Estimates, Projects FY15 Earnings Below View

(RTTNews) - Alexion Pharmaceuticals, Inc. (ALXN) Thursday announced an increase in second quarter net income to $170.22 million from $166.495 million last year. Earnings per share was in line with last year at $0.83. The results included impact of $0.20 per share, related to acquisition Synageva compared to $0.83, a year ago.

On an adjusted basis earnings increased to $297.73 million or $1.44 per share from $229.07 million or $1.12 per share a year ago.

On average, 16 analysts polled by Thomson Reuters expected the company to earn $1.38 per share. Analysts estimates usually exclude special items.

Total revenue for the quarter climbed to $636.21 million from $512.495 million last year. Soliris (eculizumab) net product sales increased 24 percent to of $636 million from $512.5 million year-on-year, despite currency headwinds.

Wall Street was looking for $628.45 million.

Looking ahead to 2015, Alexion revised its adjusted guidance to a range of $4.70 to $4.80 per share, from the previous range of $5.60 to $5.80 per share.

Alexion revised upward its revenue guidance for 2015 from the previous range of $2.55 to $2.6 billion, to the higher and narrower range of $2.6 to $2.62 billion, which includes an approximately negative 6 percent, or $160 million, foreign exchange impact compared to 2014 exchange rates.

The Street was looking for $4.98 per share on revenue of $2.63 billion.

Further, the company said it completed acquisition of Synageva.