Baxalta exceeds guidance, reports strong 1Q sales, earnings

BANNOCKBURN - Baxalta Inc. reported strong first quarter 2016 financial results.

In the first quarter, Baxalta generated net income on of $145 million and earnings of 21 cents per diluted share. These results include net after-tax special items totaling $181 million, or 26 cents per diluted share, primarily for intangible asset amortization, expenses associated with the company's separation from Baxter International (NYSE: BAX) and anticipated merger with Shire plc, as well as collaboration and business optimization charges.

"Baxalta's strong financial performance continues to highlight the attractive growth prospects that exist across the portfolio," said Ludwig Hantson, chief executive officer and president, Baxalta. "As we embark on the next phase of our journey, the outstanding contributions of our team will result in enhanced access to differentiated therapies that improve patient care and promising new treatments that address unmet medical needs."

In the first quarter, Baxalta's worldwide revenues of $1.5 billion advanced 14 percent from the prior-year period. Excluding the impact of foreign currency, sales advanced 18 percent.

On a pro forma basis, worldwide revenues increased 10 percent. Excluding the impact of foreign currency, sales advanced 14 percent, exceeding the company's previously-issued guidance of growth in the 8 to 9 percent range. Within the United States, sales of $879 million rose 16 percent; international sales of $669 million increased 3 percent. Excluding foreign currency, international sales increased 11 percent.