Alexion Posts 55% Increase In Q2 Revenue

Alexion Pharmaceuticals, engaged in the discovery, development and commercialization of therapeutic products, has reported a 55% increase in revenue for its second quarter ended June 30, 2009.

The company has posted revenues of $92.3 million compared to total revenues of $59.6 million for the same period in 2008. The GAAP net income for the second quarter 2009 was $16.8 million, as compared to GAAP net income of $2.4 million for the same period of 2008.

The company’s total revenue in the second quarter of 2009 increased by 14%, compared to total revenues of $81.3 million in the first quarter of 2009.

The company’s total operating expenses for second quarter 2009 on a GAAP basis were $61 million, as compared to $49.7 million for the second quarter of 2008. Its R&D expenses for the second quarter 2009 were $18.3 million as compared to $16.8m for the same period of the prior year.

The company’s GAAP SG&A expenses increased due to the costs associated with the expansion of its operations in the US, Europe and other countries, to support the ongoing commercial launch of Soliris.

Alexion is developing anti-CD200 monoclonal antibody, which is designed to increase the immune response to various types of malignant tumors. In the second quarter of 2009, enrolment and patient dosing continued in a study of this antibody in patients with chronic lymphocytic leukemia (CLL). Alexion is expanding evaluation of this antibody to patients with multiple myeloma.