WASHINGTON (dpa-AFX) - Alexion Pharmaceuticals, Inc. (ALXN) posted first-quarter net income of $45.4 million or $0.23 per share versus $26.8 million or $0.14 per share last year. Non-GAAP net income surged to $88.1 million or $0.45 per share from $56.3 million or $0.29 per share in the year-ago quarter.
Net product sales for the three-month period increased 47 percent to $244.7 million from $166.1 million in the previous year.
Analysts polled by Thomson Reuters expected the company to report earnings of $0.39 per share on revenues of $239.36 million for the quarter. Analysts' estimates typically exclude special items.
Going ahead, Alexion said it is raising its 2012 revenue guidance from the previous range of $1.04 to $1.07 billion now to the higher and narrower range of $1.065 to $1.085 billion. The upward revision reflects continued global growth of Soliris in PNH and initial growth in aHUS.
Besides, with this increased revenue forecast, combined with control of expenses within previously guided ranges, the company is also raising its guidance for 2012 non-GAAP earnings per share, from the previous range of $1.60 to $1.70 per share now to the higher range of $1.65 to $1.75 per share for the year.
Analysts expect the company to earn $1.74 per share on revenues of $1.07 billion for the year.
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