Alexion 4th-qtr results beat forecasts, but guidance disappoints

US biotech Alexion Pharmaceuticals (Nasdaq: ALXN) today announced financial results for the fourth quarter and full year of 2019 which were above expectations, but its full year sales forecast missed, sending the firm’s shares down nearly 4.7% to $101.85 in mid-morning trading.

Total revenues for the full year were $4.99 billion, up 21% compared to 2018. On a generally accepted accounting principles (GAAP) basis, diluted earnings per share (EPS) were $10.70, inclusive of one-time tax benefits related to intra-entity asset transfers of intellectual property, compared to $0.35 in the prior year.

Total revenues in the fourth quarter were $1.38 billion, a 23% versus the same period in 2018, and beating analysts’ expectations of $1.32 billion. Non-GAAP diluted EPS for the fourth quarter of 2019 was $2.71, a 27% rise, and beating the average estimate of analysts polled by Zacks Investment Research for $2.36.