The Zacks Analyst Blog Highlights: Dr. Reddy's Laboratories, Celgene, Actavis, Akorn and Layne Christian

Zacks

For Immediate Release
 
Chicago, IL – September 20, 2013 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include the Dr. Reddy's Laboratories Ltd. (RDY-Free Report), Celgene Corporation’s (CELG-Free Report), Actavis, Inc. (ACT-Free Report), Akorn, Inc. (AKRX-Free Report) and Layne Christian Company (LAYN-Free Report).
 
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Here are highlights from Thursday’s Analyst Blog:

Approval for Dr Reddy's Generic Vidaza

Dr. Reddy's Laboratories Ltd. (RDY-Free Report) recently announced the U.S. Food and Drug Administration (:FDA) approval of its bioequivalent generic version of Celgene Corporation’s (CELG-Free Report) Vidaza. The generic will be launched soon.
 
Vidaza is approved for the treatment of patients with some of the French-American-British myelodysplastic syndrome subtypes: refractory anemia or refractory anemia with ringed sideroblasts, refractory anemia with excess blasts, refractory anemia with excess blasts in transformation, and chronic myelomonocyticleukemia. According to IMS Health, Vidaza generated U.S. revenues of approximately $378.5 million MAT (moving annual total) in the 12 months ending Jul 2013.
 
Revenues at Dr. Reddy’s Global Generics segment were up 15% to $368 million in the first quarter ended Jun 30, 2013. Strong sales in North America and emerging markets led to the growth at the Global Generics division. Generics revenues increased in North America (up 37%), Russia and other CIS (Commonwealth of Independent States) markets (up 8%), and the rest of the world, or RoW (up 12%).
 
Dr. Reddy’s launched 23 new generic products, filed 12 registrations for new products and also filed 5 drug master files (DMFs) globally in the first quarter of 2014.
During the first quarter of fiscal 2014, Dr. Reddy’s filed 2 abbreviated new drug applications (ANDAs) with the FDA. As of Jul 30, 2013, Dr. Reddy’s had 64 ANDAs pending approval with the FDA, of which 38 are Para IV filings and 8 are first-to-file.
 
Dr. Reddy's carries a Zacks Rank #5 (Strong Sell). Currently, Actavis, Inc. (ACT-Free Report) and Akorn, Inc. (AKRX-Free Report) appear to be well placed in the generic space with a Zacks Rank #2 (Buy).
 
Layne to Build West Coast's Biggest Tower

Layne Christian Company (LAYN-Free Report) recently announced that its Geoconstruction Division was awarded an approximately $19-million worth special contract related to the construction of the Tansbay Tower in San Francisco. The construction work is expected to take six months to complete and it would begin in Oct 2013.
 
The scope of the contract requires the Geoconstruction Division to construct the building foundation system using LBE (load bearing elements). These LBEs are specially designed to support vertical loads from the building framing system and transfer them to the foundation. The foundation is expected to have a depth of 245 feet.
 
The Tansbay Tower, for which Layne is awarded the foundation construction contract, is expected to be the tallest tower in the West Cost with a height of 1,070 feet and having 61 stories. This tower will be constructed next to the Transit Center, which is a visionary transportation and housing project that is believed to transform downtown San Francisco and the San Francisco Bay Area’s regional transportation system by building a “Grand Central Station of the West” in the heart of a new transit-friendly neighborhood.
 
Layne Christian’s Geoconstruction Division essentially provides specialized geotechnical foundation construction services to heavy civil, industrial, commercial and private construction markets across the globe.
 
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