Alexion Pharmaceuticals reported a 20% increase in second-quarter revenues, even though it recorded a major overall loss during the three-month period.
The Boston-based rare drugmaker said it lost $1.1 billion, or $4.84 per share, during the second quarter compared to a $459.8 million profit in the year-ago period.Â
Revenues, however, reached $1.4 billion compared to $1.2 billion a year earlier.Â
Alexion CEO Ludwig Hantson said the company delivered a strong quarter in spite of the uncertain COVID-19 pandemic environment.
“I am incredibly proud of what we have accomplished so far and am confident that we are well positioned to build on this momentum in the second half of the year,” Hantson said.
For the company’s drug Soliris, used to treat rare diseases such as atypical hemolytic uremic syndrome, sales were at $975.5 million, down from $980.8 million in the second quarter of 2019.
Sales of the company’s drug Ultomiris, meanwhile, grew exponentially. That drug works to treat rare blood diseases, including atypical hemolytic uremic syndrome (aHUS) and paroxysmal nocturnal hemoglobinuria (PNH).
Ultomiris’ net product sales were $251 million during the quarter, compared to $54.2 million in the second quarter of 2019, a 363 percent increase.
Alexion’s stock was trading at $101.74 as of Friday morning, up from a year-to-date low of $72.67 in mid-March.
Contact Michelle Tuccitto Sullo at msullo@newhavenbiz.com.
