News Column

Alexion loses $19M in fourth quarter

January 31, 2014

By Luther Turmelle, New Haven Register, Conn.

Jan. 31 -- CHESHIRE -- Alexion Pharmaceuticals lost nearly $19 million in the fourth quarter, the company said Thursday, while its full-year earnings for 2013 essentially were flat. Alexion's fourth-quarter performance translated to a 10 cent per basic share loss. The drug maker had made $80.97 million , or 42 cents per basic share, in the fourth quarter of 2012. Alexion made $252.89 million or $1.29 cents per basic share for all of 2013. The company made $254.82 million or $1.34 per basic share during all of 2012. Alexion is a biopharmaceutical company focused on producing drugs to treat rare diseases and disorders. Right now, the only drug the company has that has been approved by the U.S. Food and Drug Administration is Soliris. Soliris has been approved by the FDA for treating a life-threatening condition called paroxysmal nocturnal hemoglobinuria that causes a breakdown of red blood cells and leads to anemia, as well as for dealing with atypical hemolytic uremic syndrome, which often leads to kidney failure and death. "In 2013, we provided Soliris to an increasing number of patients with PNH and aHUS worldwide," Leonard Bell , Alexion's chief executive officer said in a statement. "We demonstrated steady growth in PNH, grew steadily the number of new patients with aHUS receiving Soliris in the U.S. and the first countries of Western Europe , and began serving initial patients with aHUS in Japan . Throughout 2014, we will focus on serving more patients with PNH and aHUS globally." Bell said this year will be spent working on advancing a variety of products through the research and development pipeline. Company officials anticipate as many as seven potential product approvals from that pipeline between 2014 and 2018, he said. Despite the company's earnings number in the fourth quarter and for all of 2013, shares of Alexion stock gained 21 percent or $28.27 in Thursday's trading to finish at to finish at $162 on the NASDAQ. Shares of the stock traded at five times their normal volume as investors were buoyed by the 38 percent increase in net sales for Soliris in the fourth quarter. Call Luther Turmelle at 203-789-5706. ___ (c)2014 the New Haven Register (New Haven, Conn.) Visit the New Haven Register (New Haven, Conn.) at www.nhregister.com Distributed by MCT Information Services


For more stories on investments and markets, please see HispanicBusiness' Finance Channel



Source: New Haven Register (CT)


Story Tools