Alexion Pharmaceuticals, Inc.
) said at the JPMorgan Healthcare Conference that it is on track
to deliver 36% and 41% year-over-year growth in revenues and
earnings respectively in 2013. The revenue growth is
attributable to strong sales of the biopharmaceutical company's
sole marketed product Soliris. Soliris is available for the
treatment of paroxysmal nocturnal hemoglobinuria (PNH) and
atypical hemolytic uremic syndrome (aHUS).
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Alexion Pharma expects 2013 revenues in the range of
$1.520-$1.530 billion. The company expects adjusted earnings for
2013 in the range of $3.02 to $3.04 per share. The company will
provide detailed guidance for 2014 at its fourth quarter 2013
conference call later this month.
Alexion Pharma is expecting six product approvals within the time
period of 2014 to 2018 including asfotase alfa
(hypophosphatasia), ALXN 1101 (MoCD type A) and Soliris' label
expansion. Asfotase alfa is expected to be approved by year end.
This will reduce the company's dependence on Soliris for growth.
In a bid to expand, Alexion Pharma inked a deal with the
privately held Moderna Therapeutics for the discovery and
development of messenger ribo nucleic acid (mRNA) therapeutics to
treat patients suffering from rare diseases. The drug discovery
platform can expedite the development and manufacture of
candidates for treating patients with rare diseases. Under the
terms of the deal, Alexion will make an upfront payment of $100
million to Moderna for purchasing 10 product options to develop
and commercialize therapies utilizing the mRNA platform. Alexion
pharma, which has made a $25 million preferred equity investment
in Moderna, will have to make milestone and royalty payments to
the latter if situation arises.
We expect Alexion to deliver impressive fourth quarter 2013
revenues driven by strong Soliris sales in the PNH and aHUS
Alexion Pharma carries a Zacks Rank #3 (Hold). Better-ranked
stocks in the biopharma space include
Alnylam Pharmaceuticals Inc.
). While Actelion carries a Zacks Rank #1 (Strong Buy), Alnylam
and Medivation hold a Zacks Rank #2 (Buy).