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Soliris Is Expected to Continue Generating High Revenue

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Revenue trends

In 1Q17, Alexion Pharmaceuticals’ (ALXN) Soliris generated revenue of ~$783 million, which is ~18% YoY (year-over-year) growth. Soliris had volume growth of ~19% YoY. The company expects total revenue for Soliris to be $3 billion–$3.1 billion in 2017.

Alexion Pharmaceuticals expects to serve an increasing number of new patients with PNH (paroxysmal nocturnal hemoglobinuria) and aHUS (atypical hemolytic-uremic syndrome).

In 1Q17, the company reported an increasing number of new aHUS patients starting therapy with Soliris. The total number of aHUS patients treated with Soliris in the US, Turkey, and Spain exceeds the number of PNH patients being treated with the drug.

The above graph represents the revenue trajectory of Soliris from 2012 to 2016.

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Soliris for myasthenia gravis

The REGAIN phase 3 clinical trial was carried out for evaluating the safety and effectiveness of Soliris (eculizumab) for the treatment of patients suffering from refractory gMG (generalized myasthenia gravis) with anti-acetylcholine receptor antibody-positive. Alexion Pharmaceuticals filed a supplemental Biologics License Application with the FDA to extend Soliris’ indication for refractory gMG. The FDA set October 23, 2017, as the date for the Prescription Drug User Fee Act. Approving the drug for gMG could drive Soliris’ revenue in future years.

Alexion Pharmaceuticals’ peers in the orphan drugs market include Celgene (CELG), Bristol-Myer Squibb (BMY), and Novartis (NVS). Soliris’ success might fuel the share prices of the PowerShares QQQ ETF (QQQ). Alexion Pharmaceuticals accounts for ~0.35% of QQQ’s total portfolio holdings.

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