|Bid||0.00 x 800|
|Ask||0.00 x 1800|
|Day's Range||104.22 - 106.11|
|52 Week Range||73.69 - 107.84|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||2.25 (2.13%)|
|1y Target Est||N/A|
The company raised $1.51 billion from the offering, which it expects to largely pass on to Eli Lilly and Co (LLY.N). The U.S. drugmaker is expected to own about 82.3 percent of Elanco after the IPO, which was announced in July following a nine-month review of Lilly's businesses which include diabetes and lung cancer drugs.
Elanco Animal Health Inc. shares soared more than 35% Thursday in their trading debut, after the company priced the stock above its price range. Elanco, a spinoff from Eli Lilly & Co. , issued 62.9 million shares at $24 each, compared with a price range of $20 to $23, to raise $1.51 billion. Goldman Sachs. J.P. Morgan and Morgan Stanley were book-running managers on the deal. Shares are trading on the New York Stock Exchange under the ticker "ELAN."
GlaxoSmithKline reported a nearly flat top line at 7.3 billion pounds, including a 4% rise in operating revenue offset by a 4% negative foreign exchange impact. GlaxoSmithKline’s business is divided into three segments: Pharmaceuticals, Vaccines, and Consumer Healthcare.
Elanco Animal Health, the premier animal-health company being spun out of Eli Lilly (LLY) , is expected to begin trading on Thursday. Elanco enters the public market with significant revenue ($2.9 billion in 2017) but falling after-tax profit (NOPAT), and negative GAAP net income. As with any health-care firm, the valuation is based less on current profitability and more on the strength of its product/vaccine portfolio (and their patents) and its success in researching and developing (or acquiring) new animal-health products.
The initial public offering of Eli Lilly Co's animal health unit, Elanco, was priced above the expected range at $24 per share on Wednesday, giving the company a market capitalization of $8.55 billion. Elanco raised $1.51 billion from the IPO of 62.9 million shares. Lilly, which sold only a minority stake in the IPO, announced the separation of the unit in July following a nine-month review.
Elanco Animal Health Inc. priced shares for its initial public offering above the estimated range late Wednesday. The animal drug company, which is being spun off from Eli Lilly & Co. , priced shares at $24 a piece. Earlier in the month, Elanco had estimated shares in the $20 to $23 range. Under current pricing, Elanco hopes to raise up to $1.74 billion on an offering of 62.9 million shares with an added 9.4 million to underwriters to cover over-allotments. Following the IPO, Lilly expects to keep an 82.3% stake in Elanco, or 80.2% if over-allotment shares are sold. Goldman Sachs. J.P. Morgan and Morgan Stanley are acting as book-running managers. Shares are scheduled to begin trading under the ticker "ELAN" on the New York Stock Exchange on Thursday.
The Eli Lilly & Co.-owned animal medicine maker rose to $32.11 from its $24 offering price at 11:40 a.m. Thursday in New York trading, giving it a market value of $11.7 billion. Elanco priced 62.9 million shares on Wednesday, after marketing them at $20 to $23 each. Elanco already operates fairly independently from its soon-to-be former parent, which will help it move quickly once it’s on its own, according to Chief Executive Officer Jeff Simmons.
Johnson & Johnson (JNJ) submits regulatory application to the FDA seeking approval of pan-FGFR inhibitor, erdafitinib, for the treatment of metastatic urothelial cancer, a type of bladder cancer.
Novo Nordisk (NVO) plans to restructure and reallocate resources in its Research and Development organization and lay off 400 employees from the unit.
In this article, we’ll compare the valuations of Eli Lilly and Company (LLY), Pfizer (PFE), Merck & Co. (MRK), Allergan (AGN), and GlaxoSmithKline (GSK).
In this article, we’ll compare the revenue growth rates of the pharmaceutical companies under review in this series: Eli Lilly and Company (LLY), Pfizer (PFE), Merck & Co. (MRK), Allergan (AGN), and GlaxoSmithKline (GSK).
In this article, we’ll discuss the details of the dividends paid by pharmaceutical stocks Eli Lilly and Company (LLY), Pfizer (PFE), Merck & Co. (MRK), Allergan (AGN), and GlaxoSmithKline (GSK).
Glaxo (GSK) submits a regulatory application in the EU for a single-tablet, two-drug regimen of dolutegravir and lamivudine for the first-line treatment of HIV-1 infection.
On September 14, Teva Pharmaceutical Industries (TEVA) announced the FDA approval of Ajovy (fremanezumab), its injectable migraine drug. Following the news, a number of analysts raised their recommendations and target prices on Teva Pharmaceutical Industries.
Pharmaceutical ETFs are securities that are publicly traded on stock markets designed for investors who don’t have the capacity to hold many stocks but are interested in diversification within the pharmaceutical sector.
Teva Pharmaceutical Industries (TEVA) received FDA approval for its Ajovy (fremanezumab-vfrm) injectable on September 14. The chart below shows the company’s quarterly sales trend. The marketing application for Ajovy was filed by Teva in Europe in February. Teva’s (TEVA) Ajovy is an anti-CGRP (calcitonin gene-related peptide) migraine prevention treatment and offers monthly and quarterly dosage options.
The US pharmaceutical sector is made up of players that include drug manufacturers, drug marketers, and biotechnology companies.
Teva Pharmaceutical Industries Ltd. shares surged nearly 7% in Monday premarket trade after the company's migraine therapy, intended to prevent chronic attacks of head pain along with other severe, disabling symptoms, was approved by the U.S. Food and Drug Administration. The therapy, Ajovy, is administered as an injection, using a prefilled syringe, and can be dosed on a quarterly or monthly basis. The monthly dose will cost $575 per dose and the quarterly dose will cost $1,725, Teva said, meaning the product's total yearly cost will be about $6,900 per year irrespective of dose. The pricing figures released by Teva refer to the therapy's wholesale acquisition cost, or the price a drugmaker offers wholesalers, from which discounts are typically taken. About 38 million Americans, or 12% of the population, experience migraines, and though the treatment landscape has been sparse so far, it is poised to become increasingly competitive. Another preventative therapy, from Amgen Inc. and Novartis AG [S: nvs] was approved by the FDA in May, and the companies cited the same price tag, or $6,900. A FDA decision for another drug in this class, from Eli Lilly & Co. , is expected in the near future as well. For the beleaguered Teva, the new approval is a "clear positive," said J.P. Morgan analyst Chris Schott, though he noted "the highly competitive dynamics in the space with Amgen, Teva and Lilly all launching within six months of each other and with relatively limited differentiation among agents." Schott expects Teva's migraine therapy could sell about $150 million next year and as much as $600 million by 2022; even so, he sees "few growth drivers or pipeline assets beyond Ajovy" given generic competition for the company's flagship multiple sclerosis medication and challenging conditions for generic drugs. Shares of the U.S.-listed Teva have surged 20.6% year-to-date, while the S&P 500 has risen 8.7% and the Dow Jones Industrial Average has lifted 5.8%.
INSIDE SCOOP (LLY) (LLY) continues to trim its stake in (ZYME) (ZYME). After selling $508,000 of Zymeworks shares in August, Lilly this week sold another $681,130 of shares of the Vancouver-based biopharmaceutical firm.
Label expansion of Merck's (MRK) Keytruda and FDA approval of AstraZeneca's (AZN) leukemia drug grab headlines this week
Roche (RHHBY) gets FDA approval for the subcutaneous formulation of Actemra for the treatment of active systemic juvenile idiopathic arthritis in patients aged two years or older.
AstraZeneca's (AZN) rare blood cancer candidate receives approval from the FDA for relapsed or refractory hairy cell leukemia (HCL) in patients who have received at least two prior systemic therapies.