Alexion Pharmaceuticals Inc. in Cheshire saw fourth-quarter earnings climb more than 17-fold from a year earlier, propelled largely by a one-time tax benefit stemming from development of its treatment for a rare blood disorder.
The developer and marketer of the drug Soliris earned $237 million, or $2.59 a share, in the three months ended Dec. 31, up from $15.3 million, or 17 cents a share, the same period a year earlier. Without the tax benefit, Alexion said it earned $21.6 million, or 24 cents a share.
Fourth-quarter revenues climbed 43% to $110.6 million from $77.4 million a year earlier.
For the year, Alexion earned $295.2 million, or $3.26 a share, up from $33.2 million, or 39 cents a share, a year earlier.
Annual revenues rose 49 percent to $386.8 million from $259.1 million in 2008.
Soliris treats patients with paroxysmal nocturnal hemoglobinuria (PNH), a life-threatening blood disease.
Alexion forecast its worldwide sales in 2010 to be within the range of $505 million to $520 million. Based on projected administrative, research and development, payroll and other overhead, the company estimates 40 percent growth in annual earnings, or  $1.60 to $1.65 a share.
Alexion said it continues to test new treatments for Soliris, including as an anti-rejection drug for transplanted kidneys. It also is researching a cancer antibody as a treatment for lymphocytic leukemia and tumorous tissues.
Meanwhile, the company says its Smithfield, R.I., plant for producing Soliris is on track to receive final federal drug clearance to begin operations by late this year.
