Cheshire-based Alexion Pharmaceuticals said today it posted strong earnings and revenue for the first full year marketing its Soliris drug for treating a rare genetic disorder.
Alexion earned $15.3 million for the fourth quarter of 2008, or 17 cents a share, compared to a loss of $12.3 million, or 17 cents a share, in the fourth quarter of 2007.
Fourth-quarter sales, primarily of Soliris, nearly doubled to $77 million, up from $39 million a year earlier. Soliris is approved in the U.S. and Europe for treating patients suffering from a genetic disorder that causes anemia and other complications.
For the full year, the company earned $33.1 million, or 39 cents a share, compared to a net loss of $92.3 million, or $1.27 cents a share, in 2007. Sales rose to $259 million from $66.4 million a year earlier.
For 2009, Alexion projects product sales to be within a range of $360 to $375 million and forecasts earnings of $1 to $1.05 for the year.
At 11 a.m., Alexion traded at $38.57, up $1.69, or 4.6 percent.
