Soliris, Alexion's only drug, is approved in over 35 countries to treat one rare life-threatening blood disorder called paroxysmal nocturnal hemoglobinuria, or PNH.
But Alexion isn't likely to be a one-trick pony for long. The company expects the Food and Drug Administration to decide if Soliris can be marketed to treat another rare disease, atypical Hemolytic Uremic Syndrome, or aHUS, as early as this year's fourth quarter. The disease primarily affects kidney function. If approved, Alexion officials anticipate the U.S. launch of Soliris for aHUS during the same quarter.
Alexion has enjoyed a booming business with Soliris' single application. Sales and profits have surged at double-digit rates for eight straight quarters. Most recently, in the second quarter, earnings climbed 45% to 29 cents a share, topping views for the 14th straight quarter. Sales popped 48% to $185.7 million.
The company got a nice bump from strong growth in the U.S., Western Europe and Japan. It also got a lift from its results reflecting the first full quarter of Soliris sales from Australia. A slight positive foreign exchange effect also helped.
Alexion is poised to stay on the fast track. Analysts polled by Thomson Reuters expect full-year earnings to rise 30% to $1.16 a share. They see a 37% jump in 2012.
The stock is up again today +1.69 to 58.58
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