Alexion Pharmaceuticals, Inc. (ALXN) Message Board

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Biotech / Medical : Alexion Pharmaceuticals, Inc. (ALXN)

ALXN 182.50

0.0%

Jul 28 4:00 PM EDT

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From: Icebrg	5/30/2008 5:34:52 AM
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Alexion rated 'Buy' as analyst says Soliris revenue could surpass $1 billion per year May 29, 2008: 08:35 AM EST NEW YORK (Associated Press) - A Piper Jaffray analyst set a "Buy" rating on Alexion Pharmaceuticals Inc. Thursday, saying the company's drug Soliris could become a billion-dolar "blockbuster." Soliris is used to treat paroxysmal nocturnal hemoglobinemia, a genetic condition that causes red blood cells to break down. Soliris was launched in the U.S. in April 2007, and the company expects worldwide sales of $215 million to $225 million this year. Analyst Caroline Stewart said annual sales could grow to $717 million in 2012, and may exceed $1 billion. She said 515 patients were using the drug in the U.S. and European Union at the end of 2007, but there could be five times that number in the U.S. and the five largest E.U. nations alone. Stewart said the drug could go on sale in France, Italy and Spain this year, and is being reviewed in Australia. Combined with Alexion's efforts to identify more patients and get the drug prescribed to patients who do not yet rely on blood transfusions, Stewart said there is "considerable room for growth." She added that the drug may be launched in Japan in 2010. Shares of the Cheshire, Conn., company finished at $69.32 Wednesday, and gained $1.17 to $69.32 in premarket electronic trading. Stewart expects them to rise to $88 over the next year, a gain of 27 percent

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