February 8, 2018

Alexion's 4Qnet down; revenue up

PHOTO | Contributed
PHOTO | Contributed
An aerial view of Alexion Pharmaceuticals' New Haven headquarters

New Haven rare disease drugmaker Alexion Pharmaceuticals reported a steep profit decline for the fourth quarter, despite increasing revenues.

For the quarter ended Dec. 31, the company said net income declined to $30 million, or 13 cents a diluted share, from $92.8 million, or 41 cents a diluted share, in the year-ago period.

For the year, however, the company said net income rose to $443.3, or $1.97 a diluted share, compared to $399.4, or $1.76 a diluted share, in the year-ago period.

For the quarter, revenue totaled $909.7 million compared with $830.8 million in the year-ago period. For the year, revenue increased to $3.5 billion from $3 billion a year ago.

Alexion is still in the process of moving its headquarters from New Haven to Boston, a move that is expected to be completed by mid-2018.

"2017 was a year of rapid transformation for Alexion as we continued to advance our global leadership in rare diseases and position Alexion for the future," Alexion CEO Ludwig Hantson said. "I am proud of our accomplishments and performance in 2017, which included strengthening the leadership team and Board of Directors [and] achieving regulatory approvals for Soliris for the treatment of patients with gMG in the US, Europe and Japan."

Soliris is used to treat rare blood disorders and also the crippling neuromuscular disease generalized myasthenia gravis.

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