By Bowdeya Tweh
Alexion Pharmaceuticals Inc. (ALXN) raised its profit and sales outlook this year after posting stronger-than-expected first-quarter results, bolstered by growth in Soliris and newer treatments like Ultomiris.
Profit in the latest period more than doubled to $587.9 million, or $2.61 a share.
Excluding one-time items, Alexion earned $2.39 a share. Analysts polled by FactSet expected $2.21 a share.
Revenue rose 23%, to $1.14 billion, as analysts expected $1.13 billion.
For the full year Alexion expects per-share earnings of $6.76 to $7.96, or $9.25 to $9.45 as adjusted, on revenue of $4.68 billion to $4.75 billion. The company had expected per-share earnings of $6.14 to $7.26, or $9.10 to $9.30 as adjusted, on $4.63 billion to $4.7 billion in revenue.
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