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Alexion Pharmaceuticals releases strong report for 3Q

Alexion Pharmaceuticals (ALXN), a major US biotech company, recently released strong financial results for 3Q15. According to the report, revenue rose 201.1% y-o-y to USD 666.66 mn due to a significant increase in the number of patients who use the company's main drug Soliris, intended to treat severe anemia. Notably, Soliris is currently approved in more than 50 countries, including the US, Europe and Japan. Sales of the drug reached USD 665.4 mn (+19.9% y-o-y). Volume of sales was up 29% y-o-y. Adjusted EPS amounted to 93 cents, outpacing the consensus of 78 cents.

Robust results in Q3 allowed Alexion to upgrade financial forecast for 2015. Adjusted EPS was revised up from USD 4.70-4.80 to USD 4.92-4.97.

We are upbeat about future prospects of Alexion. Besides Soliris, the company actively develops other drugs. The company launched into production two new drugs: Strensiq against HPP and Both Kanuma intended to restore deficiency of enzymes. Major part of drugs developed by Alexion will undergo last stage of trials in 2016. It is intended to bring to market seven new drugs until 2018. In addition, the company is exploring possibility of using its best-selling Soliris to treat a number of other serious autoimmune diseases.

We are upbeat about shares of Alexion and rate the name as a Buy in the mid-term.