Alexion Pharmaceuticals, Inc. (NASDAQ:ALXN) Q4 2014 Earnings Conference Call - Final Transcript

Jan 29, 2015 • 10:00 am ET


Alexion Pharmaceuticals, Inc. (NASDAQ:ALXN) Q4 2014 Earnings Conference Call - Final Transcript


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Good morning, and welcome to the Alexion's Pharmaceutical Inc, Fourth Quarter and Full Year 2014 Results Conference Call. Today's call is being recorded. For opening remarks and introduction, I would now like to turn the call over to Mr. Irving Adler, Executive Director, Corporate Communications. Go ahead, sir.

Irving Adler

Thank you, Tony. Good morning, and thank you all for joining us on today's call to discuss Alexion's performance for the fourth quarter and full year 2014, and our plans of 2015. Today's call will be led by Dr. Leonard Bell, our Chairman and CEO.

Lenny will be joined by members of Alexion management. David Hallal, our Chief Operating Officer and CEO-elect; Vikas Sinha, our Chief Financial Officer; Martin MacKay, our Global Head of R&D; Julie O'Neill, our Executive Vice President, Global Operations and Saqib Islam, our Chief Strategy and Portfolio Officer.

(Forward-looking Cautionary Statements)

Thank you Lenny?

Leonard Bell

Thanks very much, Irving. In Q4, the global Alexion team drove a strong conclusion to 2014 as we advance our relentless mission to provide transformative therapies to patients with severe and life-threatening disorders. During Q4, our commercial organization again provided Soliris to an increasing number of patients with PNH and aHUS across our operations in 50 countries. Our development teams made continued and strong progress in the quarter, notably with the completion of the rolling submission of our BLA for Asfotase Alfa in the United States and also our submission in Japan.

Importantly, we reported the advancement of the first two next-generation Soliris molecules into the clinic, and based on initial clinical data, at least one of these molecules will advance into Phase II PNH trials this year. And finally, we expect another year of strong financial performance in 2015. Equally important, we now are pleased to announce that we expect significant improvements in both our 2015 and longer-term effective tax rates compared to previous guidance.

Our accomplishments throughout 2014 position us to reach a new set of significant milestones on behalf of patients this year and beyond. By every measure, Alexion is at the strongest and most promising point in our history. Our commercial and financial performance are at record levels. Our potential to deliver new therapies to patients is greater than ever, and we have a world-class team of talented and dedicated colleagues at every level of the organization.

Thus, I'm confident that the time is right for the company and for me, personally, to complete our planned leadership transition as we announced this morning. The Board and I are delighted that David Hallal will become our second CEO. David has been instrumental in driving our results and in shaping our high-performance culture. He has demonstrated outstanding leadership at Alexion playing a principal role in leading many of the company's key initiatives on behalf of patients, including the highly successful launches of Soliris for PNH and aHUS, while also driving the build out of Alexion's 50-country operating platform.

Since joining Alexion nine years ago, David's role has expanded across the entire organization. And