Alexion Pharmaceuticals, Inc. announced financial results for the first quarter of 2018. Total revenues in the first quarter were $930.9 million, a 7 percent increase compared to the same period in 2017. First quarter 2017 revenues included a benefit of $49.2 million due to both the recognition of deferred revenue and timing of orders from certain non-U.S. markets that access Alexion’s products through a tender process.
The benefit of foreign currency on total revenues year-over-year was 2 percent or $13.7 million, net of hedging activities. On a GAAP basis, diluted earnings per share (EPS) in the quarter was $1.11 per share, a 48 percent increase versus the prior year. Non-GAAP diluted EPS for the first quarter of 2018 was $1.68 per share, a 22 percent increase versus the prior year.
“In the first quarter of 2018 we had strong momentum in our complement and metabolic portfolios. We continue to see robust underlying growth of Soliris and I am particularly pleased with the U.S. launch in patients with gMG. In addition, Strensiq remains a key driver of growth as we continue to serve new patients with HPP,” said Ludwig Hantson, Chief Executive Officer of Alexion. “Along with growing our in-line business, we announced positive topline results from both the ALXN1210 Phase 3 PNH Naive and Switch studies, and executed on our disciplined business development plan with the anticipated acquisition of Wilson Therapeutics to begin to rebuild the clinical pipeline. We are delivering on our 2018 objectives to drive sustainable long-term growth and I look forward to providing updates on our progress throughout the year.”
Alexion is a global biopharmaceutical company focused on serving patients and families affected by rare diseases through the innovation, development and commercialization of life-changing therapies. Alexion is the global leader in complement inhibition and has developed and commercializes the first and only approved complement inhibitor to treat patients with paroxysmal nocturnal hemoglobinuria (PNH), atypical hemolytic uremic syndrome (aHUS), and anti-acetylcholine receptor (AchR) antibody-positive generalized myasthenia gravis (gMG). In addition, Alexion has two highly innovative enzyme replacement therapies for patients with life-threatening and ultra-rare metabolic disorders, hypophosphatasia (HPP) and lysosomal acid lipase deficiency (LAL-D). As the leader in complement biology for over 20 years, Alexion focuses its research efforts on novel molecules and targets in the complement cascade, and its development efforts on the core therapeutic areas of hematology, nephrology, neurology, and metabolic disorders. This press release and further information about Alexion can be found at: www.alexion.com.