|Bid||83.45 x 900|
|Ask||83.47 x 1800|
|Day's Range||83.20 - 83.50|
|52 Week Range||72.30 - 94.19|
|PE Ratio (TTM)||24.45|
|Forward Dividend & Yield||2.98 (3.85%)|
|1y Target Est||N/A|
Mylan (MYL) made a downward revision to its fiscal 2018 guidance during its second-quarter earnings release on August 8. A major factor driving down the company’s performance was lower North America sales due to volume declines in the company’s existing products. Due to the impact of “turbulence in the U.S. and the disturbing trends regarding access to complex products,” Mylan lowered its fiscal 2018 guidance during its second-quarter earnings release on August 8.
Mylan (MYL) ended the second quarter with cash and cash equivalents of $330.2 million. This compared to the net cash provided by operating activities of $1.02 billion available to the company by the end of the fiscal second quarter of 2017. For the six months ended June 30, Mylan’s adjusted free cash flows were $1.3 billion, up ~22% YoY (year-over-year).
Mylan’s (MYL) epinephrine auto-injector EpiPen is approved as the first line of treatment for life-threatening allergic reaction anaphylaxis. During its second-quarter earnings release on August 8, Mylan provided an update on its EpiPen supply shortages.
Array BioPharma (ARRY) reported its Q4 2018 and fiscal 2018 earnings results August 14. Its sales rose by ~4.9% YoY (year-over-year) to $35.4 million, missing analysts’ estimate of $38.7 million. The rise was mainly due to earned milestones, new and expanded collaborations, and an increase in expense reimbursements related to the Beacon CRC trial. Pierre Fabre, a French pharmaceutical company, has an agreement with Array Biopharma to fund 40% of the cost of the Beacon CRC trial.
Mylan reported its second-quarter results on August 8. Mylan had completed a $1.0 billion share repurchase program at the beginning of 2018, the benefits of which are reflected in its adjusted EPS growth. In the second quarter, Mylan’s gross profit fell ~40% YoY to $962.5 million.
Today, Teva Pharmaceutical Industries (TEVA) received FDA approval for the generic version of Mylan’s (MYL) allergy products EpiPen and EpiPen Jr. The epinephrine autoinjector is used to treat allergic reactions, including life-threatening condition of anaphylaxis. The company received FDA approval for the use of the product in adults as well as children weighing more than 33 pounds. In 2016, Teva’s generic version of EpiPen was unable to secure FDA approval.
Shares of the U.S.-listed Teva Pharmaceutical Industries Ltd. (TEVA) surged 6.2% in extremely heavy Thursday afternoon trade after the company's generic version of the EpiPen allergic reaction treatment was approved by the Food and Drug Administration, making it the product's first true generic rival. Teva secured approval for both adult and child-appropriate dose levels of its generic epinephrine autoinjector. Shares of Mylan (MYL) , which sells the EpiPen and a cheaper authorized generic version, slumped 0.5% in heavy trade, while rivals Amneal Pharmaceuticals Inc. (AMRX) and Adamis Pharmaceuticals Corp. (ADMP) had shares drop 3% and 7.5% respectively.
The company missed Wall Street analysts’ sales estimate of $2.96 billion for the second quarter. The company’s sales have seen YoY declines for the last three quarters. The company is facing intense competition for its EpiPen injectable and the challenging US market dynamics pressuring pricing.
The closing price for Mylan (MYL) stock on August 10 was $37.21, and its market capitalization stood at $19.2 billion. The stock registered its 52-week high of $47.82 on January 23 and its 52-week low of $29.39 on August 15, 2017. Currently, MYL stock is trading above its 50-day moving average of $36.80 but below its 200-day moving average of $39.52. On August 8, MYL stock had declined as much as 7.2% on disappointing second-quarter results that missed analysts’ estimates.
Myan (MYL) reported its second-quarter earnings on August 8. For brief highlights, please read Mylan Stock Falls on Q2 Results: Misses Estimates, Cuts Outlook. Following its weak second-quarter performance, multiple brokerages updated their recommendations and target prices on MYL stock, which we’ll discuss in this article.
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Bausch + Lomb, an international subsidiary of Bausch Health Companies (BHC), generated revenue of $1.21 billion in the second quarter compared to $1.22 billion in the second quarter of 2017, reflecting a ~1% YoY (year-over-year) fall. However, Bausch + Lomb witnessed ~4% YoY organic growth in the second quarter.
Durham County approved incentives worth nearly $450,000 combined Monday, including a package solidifying gene therapy firm AveXis’ 200-job expansion in the Triangle.
Regeneron (REGN) suffers setback as the FDA issues a CRL to its application for label expansion of Eylea for wet AMD with a modified 12-week dosing schedule.
In its Q2 2018 earnings conference call, Pfizer (PFE) updated its fiscal 2018 adjusted diluted earnings per share (or EPS) guidance from the previously projected range of $2.90–$3.00 to $2.95–$3.05. The midpoint of this updated EPS range implies a year-over-year (or YoY) rise of around 13%. While the company has completed share repurchases worth $6.1 billion to date in 2018, Pfizer has not factored in the impact of any additional share repurchases in its adjusted diluted EPS prediction for fiscal 2018. The company expects dilution due to share-based employee compensation to partly offset the impact of share repurchases in fiscal 2018.
GlaxoSmithKline’s (GSK) Consumer Healthcare segment includes its wellness, oral health, nutrition, and skin health products. In the second quarter, the segment’s revenue grew 3% YoY (year-over-year) at constant exchange rates to ~1.8 billion British pounds, as shown in the chart below. GlaxoSmithKline bought out Novartis’s (NVS) stake in the companies’ consumer healthcare joint venture on June 1.
In its Q2 2018 earnings conference call, Pfizer (PFE) updated its fiscal 2018 revenue guidance from the previously projected range of $53.5 billion–$55.5 billion to $53.0 billion–$55.0 billion, mainly to account for the unfavorable foreign currency fluctuations from mid-April 2018 to mid-July 2018. Analysts have projected Pfizer’s fiscal 2018 revenues to come in around $54.2 billion, which would be a year-over-year (or YoY) rise of approximately 3.1%. Merck (MRK), Eli Lilly (LLY), and Novartis (NVS) are expected to report revenues close to $42.4 billion, $24.3 billion, and $52.4 billion, respectively, in fiscal 2018.
GlaxoSmithKline’s (GSK) Pharmaceuticals segment includes its HIV, respiratory, immuno-inflammation, and established products. In the second quarter, Pharmaceuticals revenue grew 1% YoY (year-over-year) to ~4.23 billion British pounds at constant exchange rates.
Novartis (NOVN.S) has recruited a new chief ethics officer from Siemens (SIEGn.DE) after costly bribery scandals and a disputed $1.2 million (938,673.3 pounds) contract with President Donald Trump's former lawyer that the Swiss drugmaker now calls a mistake. Novartis said on Tuesday it had hired Klaus Moosmayer, 49, from Siemens, where he spent more than a decade helping oversee the German engineering company's efforts to build its compliance system after several of its own bribery scandals. Novartis Chief Executive Vas Narasimhan, promoted on Feb. 1 to lead the Basel-based company, has promised to boost its reputation following settlements or fines in corruption cases in China, South Korea and the United States.
Novartis (NOVN.S) has recruited a new chief ethics officer from Siemens (SIEGn.DE) after costly bribery scandals and a disputed $1.2 million contract with President Donald Trump's former lawyer that the Swiss drugmaker now calls a mistake. Novartis said on Tuesday it had hired Klaus Moosmayer, 49, from Siemens, where he spent more than a decade helping oversee the German engineering company's efforts to build its compliance system after several of its own bribery scandals. Novartis Chief Executive Vas Narasimhan, promoted on Feb. 1 to lead the Basel-based company, has promised to boost its reputation following settlements or fines in corruption cases in China, South Korea and the United States.
In the third quarter, OPKO Health (OPK) expects research and development expenses of $33 million–$38 million, and foresees its total operating expenses falling to $285 million–$305 million. The company has projected a single-digit effective tax rate for Q3 2018. In fiscal 2018, analysts expect OPKO Health’s adjusted diluted EPS to rise ~51.0% to -$0.24, while peers Novartis (NVS), Merck (MRK), and Regeneron (REGN) are expected to report adjusted diluted EPS of approximately $5.20, $2.60, and $20.40, respectively.
Allakos Inc (NASDAQ: ALLK ), a clinical-stage biotech company developing treatment for various eosinophil and mast-cell related diseases, offered 7.13 million shares in an IPO at $18 per share. The Analysts ...
In the third quarter, OPKO Health (OPK) expects service revenue of $200 million–$220 million, assuming stable reimbursement rates and a small rise in volumes. Meanwhile, the company expects product revenue of $28 million–$32 million, and Rayaldee revenue of $5.7 million–$6.5 million.
As discussed, GlaxoSmithKline’s three business segments—Pharmaceuticals, Vaccines, and Consumer Healthcare—all saw YoY (year-over-year) revenue growth in the second quarter, as shown in the graph below. Pharmaceuticals revenue fell 3% YoY to ~4.2 billion British pounds, as a result of 1% operating revenue growth and a 4% impact by foreign exchange. ...