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Last $177.05 USD
Change Today -2.77 / -1.54%
Volume 285.8K
As of 10:47 AM 08/28/15 All times are local (Market data is delayed by at least 15 minutes).

alexion pharmaceuticals inc (ALXN) Key Developments

Alexion Pharmaceuticals, Inc. Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2015; Revises Earnings Guidance for the Full Year of 2015

Alexion Pharmaceuticals, Inc. announced unaudited consolidated earnings results for the second quarter and six months ended June 30, 2015. For the quarter, the company announced total revenues of $636,210,000 compared to $512,495,000 for the same period a year ago. Operating income was $181,082,000 compared to $218,849,000 for the same period a year ago. Income before income taxes was $177,292,000 compared to $218,646,000 for the same period a year ago. Net income was $170,215,000 compared to $166,495,000 for the same period a year ago. Earnings per common share, diluted were $0.83 compared to $0.83 for the same period a year ago. Non-GAAP net income was $297,732,000 compared to $229,072,000 for the same period a year ago. Non-GAAP earnings per share, diluted were $1.44 compared to $1.12 for the same period a year ago. For the six months, the company announced total revenues of $1,236,543,000 compared to $1,079,111,000 for the same period a year ago. Operating income was $284,789,000 compared to $428,352,000 for the same period a year ago. Income before income taxes was $284,237,000 compared to $430,557,000 for the same period a year ago. Net income was $261,538,000 compared to $325,849,000 for the same period a year ago. Earnings per common share, diluted were $1.29 compared to $1.62 for the same period a year ago. Non-GAAP net income was $562,689,000 compared to $541,671,000 for the same period a year ago. Non-GAAP earnings per share, diluted were $2.72 compared to $2.62 for the same period a year ago. The company revised earnings guidance for the full year of fiscal 2015. The company is revising upward its revenue guidance for 2015 from the previous range of $2.55 billion to $2.6 billion, now to the higher and narrower range of $2.6 billion to $2.62 billion, which includes an approximately negative 6%, or $160 million, foreign exchange impact compared to 2014 exchange rates. The company is reducing its 2015 non-GAAP tax rate guidance to the lower range of 3% to 4%, from the previous range of 7% to 9%. Interest expense expected to be $55 million. The company is revising 2015 non-GAAP EPS guidance to the range of $4.70 to $4.80 per share, from the previous range of $5.60 to $5.80 per share.

Alexion Pharmaceuticals, Inc. to Report Q2, 2015 Results on Jul 30, 2015

Alexion Pharmaceuticals, Inc. announced that they will report Q2, 2015 results at 9:00 AM, Eastern Standard Time on Jul 30, 2015

Alexion Pharmaceuticals, Inc., Q2 2015 Earnings Call, Jul 30, 2015

Alexion Pharmaceuticals, Inc., Q2 2015 Earnings Call, Jul 30, 2015

Japan’s Ministry of Health, Labour and Welfare Approves New Drug Application of Alexion Pharmaceuticals, Inc

Alexion Pharmaceuticals, Inc. announced that Japan’s Ministry of Health, Labour and Welfare (MHLW) approved the company’s New Drug Application (NDA) for the use of Strensiq® (asfotase alfa) as a treatment for patients in Japan with hypophosphatasia (HPP), a life-threatening, ultra-rare metabolic disorder. The company expects that initial patients with HPP in Japan will start commercial treatment with Strensiq by late third quarter 2015.

Alexion Pharmaceuticals, Inc. Enters into Credit Agreement

Alexion Pharmaceuticals, Inc. entered into a Credit Agreement by and among Alexion, as Administrative Borrower, certain foreign subsidiaries, as borrowers thereto, the lenders referred to therein and Bank of America, N.A., as Administrative Agent. Pursuant to the Credit Agreement, the company borrowed term loans in an aggregate amount of USD 3.50 billion. In addition, the Credit Agreement provides for a USD 500 million revolving facility, USD 200 million of which was drawn at closing. The Credit Agreement matures on June 22, 2020. The proceeds of the borrowing under the Credit Agreement were used to finance the purchase of the shares, refinance certain existing indebtedness of the company and its subsidiaries and to pay fees and expenses incurred in connection with the foregoing. The loans will bear interest, at Alexion's option, at either a base rate or a Eurodollar rate, in each case plus an applicable margin. Under the Credit Agreement, the applicable margins on base rate loans range from 0.25% to 1.00% and the applicable margins on Eurodollar loans range from 1.25% to 2.00%, in each case based on Alexion's consolidated net leverage ratio. Under the terms of the Credit Agreement, Alexion must maintain a ratio of total net debt to EBITDA of 3.75 to 1.00, in the case of each such fiscal quarter ending on or prior to September 30,2016 or 3.50 to 1.00, in the case of each such fiscal quarter ending after September 30, 2016, subject to certain increases following designated material acquisitions. In addition, the company must maintain a ratio of EBITDA to cash interest expense of at least 3.50 to 1.00.

 

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Valuation ALXN Industry Range
Price/Earnings 59.3x
Price/Sales 14.7x
Price/Book 4.6x
Price/Cash Flow 66.2x
TEV/Sales 14.3x
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