Alexion Pharmaceuticals Inc. (NASDAQ: ALXN) reported Thursday that its fourth-quarter profit rose due to hefty tax benefit and sales of the blood disorder treatment Soliris, according to Associated Press.
Including a tax gain of $214.5 million, the company earned $237.1 million, or $2.59 per share, in the latest period. That's up from year-ago profit of $15.3 million, or 17 cents per share. Excluding special gains and charges, the company earned 31 cents per share.
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Revenue, which all came from sales of its Soliris drug, rose 43 percent to $110.6 million, compared to $77.4 million.
The results topped expectations of analysts polled by Thomson Reuters, who expected profit of 24 cents per share on revenue of $109.2 million.
For the full year, the company earned $295.2 million, or $3.26 per share, up from $33.1 million, or 39 cents per share, in 2008. Revenue rose to $386.8 million from $259.1 million.
The company expects adjusted profit between $1.60 and $1.65 per share on sales between $505 million and $520 million. Analysts are looking for profit of $1.21 per share on revenue of $513.9 million, on average.
Shares of Alexion rose fell $1.08, or 2.3 percent, to $46.40 in afternoon trading. The stock has traded between $30.78 and $49.57 over the last 52 weeks.
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