Cheshire pharmaceutical company Alexion reported a sharp drop in net income for the third quarter. Net income was down $361.4 million for the quarter, the company said, due to expenses related to its acquisition of Synageva, a Massachusetts biopharmaceutical company.
Alexion lost $183.7 million, or 81 cents per share, in the quarter, compared to a profit of $177.7 million, or 90 cents per share, a year earlier. Alexion said those figures were impacted by $315.6 million loss related to a non-cash deferred income tax expense resulting from the integration of Synageva.
“The third quarter of 2015 was a landmark quarter for Alexion as we firmly established our leadership in serving patients with rare and devastating diseases by diversifying our commercial portfolio, advancing the most robust rare disease pipeline in biotech, and continuing to deliver long-term value creation,” said David Hallal, Alexion CEO.
Operating revenues were $666.6 million compared to $555.1 million a year ago.
