Alexion exceeds earnings estimates but drops guidance
US drugmaker Alexion Pharmaceuticals (Nasdaq: ALXN) fared better in its revenue and adjusted earnings figures in the first quarter of 2020, compared to a year earlier.
Quarterly revenues hit $1.44 billion, a rise of 27% on the first quarter of 2019, while adjusted earnings per share (EPS) were $3.22, a jump of 35% and ahead of analysts’ expectations of around $2.39.
Despite this, Alexion has decreased its estimates for 2020 revenue and adjusted EPS due to the COVID-19 pandemic, which has already shown signs of slowing new patient initiations and delays in treatment starts.
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