Alexion Pharmaceuticals Incorporated (NASDAQ:ALXN) reported its third quarter earnings for the third quarter of 2013 recently. The company has seen an increase in net income from $92.2 million at $0.46 per share to $93.8 million at $0.47 per share. The adjusted net income for the company stands at $167.9 million at $0.83 per share for Q3. The company also beat estimates made by analysts at Thomson Reuters, as many as 21 analysts had expected that the company would report a profit per share of around $0.79 for the quarter, these estimates of course exclude any special conditions and terms that may occur.
The net product sales for Alexion Pharma has also risen from $294.14 million last year to $400.40 million, this also beat the analysts’ predictions which were set at $395.29 million for this quarter. The company further announced that it is also raising the revenue guidance for the year 2013 from $1520 billion to $1530 billion to a slightly higher yet narrower range of $1535-1540 billion. The guidance range for the adjusted earning for every share is also being raised from an earlier range of $2.97-$3.02 per share to a similar higher, narrower range of $3.02-$3.04. Projections of profit for Alexion Pharma by analysts stand at a revenue of $3.03 per share on a net revenue of $1.53 billion.
Some great news also came through for the company recently as one of the subsidiaries of Alexion Pharma, known as Alexion Pharma International Sarl announced that the United States FDA body has recently granted a breakthrough therapy status to one of their products. Cyclic Pyranopterin Monophosphate, is an enzyme co-factor therapy used for the treatment of patients who have molybdenum cofactor deficiency type A. This is great news for the company as it can now move forward with the development of this therapy which it hopes will boost sales and bring in positive results soon.
