Alexion Pharmaceuticals blew out estimates of sales and earnings for the second quarter, and new CEO Ludwig Hantson outlined some important directions on the company’s research and “pipeline” direction.
The company’s stock price reached as high as $142 per share, after the earnings report before dropping back into the $130s, still up from a low of $96.75 in November. 2016, when the company announced an internal investigation of how it was booking certain sales, which was followed by the resignation of its CEO and CFO.
The company’s flagship product Soliris continued to move ahead generating a 16% sales increases in spite of media criticism about it marketing approach. Soliris has also been advancing for regulatory approval of other rare diseases. The company is also in clinical development of a replacement to stave off competitor drugs and generics.