Alexion Pharma beats by $0.02, misses on revs; guides FY17 EPS below consensus, revs below consensus; raises buyback to $1 bln (132.00)
- Reports Q4 (Dec) earnings of $1.26 per share, excluding non-recurring items, $0.02 better than the Capital IQ Consensus of $1.24; revenues rose 18.5% year/year to $831 mln vs the $841.09 mln Capital IQ Consensus.
- Soliris net product sales were $749 million, compared to $689 million in the fourth quarter of 2015.
- Strensiq net product sales were $71 million, compared to $12 million in the fourth quarter of 2015.
- Kanuma net product sales were $11 million.
- Co issues downside guidance for FY17, sees EPS of $5.00-5.25, excluding non-recurring items, vs. $5.56 Capital IQ Consensus Estimate; sees FY17 revs of $3.4-3.5 bln vs. $3.55 bln Capital IQ Consensus Estimate.
- "In 2016 the global Alexion team delivered on our patient-centered objectives as we grew our leadership in complement by serving more patients with PNH and aHUS, and continued to build our metabolic franchise with the global launches of Strensiq and Kanuma. We also achieved important regulatory milestones towards new indications for Soliris and initiated two registration studies for ALXN1210 to drive our future growth," said David Brennan, Interim Chief Executive Officer of Alexion. "Our 2017 guidance reflects double-digit revenue and EPS growth as we continue to grow our complement and metabolic franchises, prepare for the potential launches of Soliris in refractory gMG, and focus on our highest priority R&D programs."
- Alexion Board increases authorized share repurchase to a total of $1 bln.