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Alexion Reports Third Quarter 2008 Results
Date:10/23/2008

Continued Strong Uptake of Soliris(R) in U.S. and Europe

Reported Net Sales of $76.5 Million Include Recognition of $5.3 Million for Prior Quarter Shipments

Company Revises Revenue Guidance Upward and Expense Guidance Downward, and Forecasts GAAP Profit in Full Year 2008

Pipeline Progress in Hematology, Oncology, Transplant, Neurology

Third Quarter 2008 Financial Highlights:

-- Soliris(R) (eculizumab) net product sales of $76.5 million in Q3 2008 consisted of $71.2 million in net product sales for shipments that occurred in Q3 plus recognition of $5.3 million from net product sales associated with the decision of certain government payors during Q3 to reimburse for Soliris shipments that occurred in previous quarters.

-- Q3 GAAP net income was $19.7 million, or $0.23 per diluted share, compared to a GAAP net loss of $20.1 million, or $0.27 net loss per share, in Q3 2007.

-- Q3 non-GAAP net income was $25.7 million, or $0.29 per diluted share, compared to a non-GAAP net loss of $14.0 million, or $0.19 net loss per share, in Q3 2007. Q3 2008 non-GAAP net income, excluding the recognition of $5.3 million from prior-quarter shipments would be $20.8 million, or $0.23 per diluted share.

CHESHIRE, Conn., Oct. 23 /PRNewswire-FirstCall/ -- Alexion Pharmaceuticals, Inc. ("Alexion" or the "Company," Nasdaq: ALXN) today announced financial results for the quarter ended September 30, 2008.

Third Quarter 2008 Financial Results:

For the three months ended September 30, 2008, Alexion reported total revenues of $76.5 million from net product sales of Soliris(R) (eculizumab), compared to total revenues of $21.8 million for the same period in 2007. The Q3 2008 revenues consisted of $71.2 million of net product sales from Soliris shipments during Q3, plus recognition of $5.3 million from net product sales associated with the Q3 2008 decision of certain government payors to reimburse for past Soliris shipment
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SOURCE Alexion Pharmaceuticals, Inc.
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