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Drug research solutions provider $CRL has acquired KWS BioTest, a contract research organization, for about $20MM. The deal also includes a potential additional payment of up to $4MM based on future performance. The acquisition is not expected to be material to Charles River’s GAAP or non-GAAP results from operations this year.
Healthcare solutions firm $BSX said its 4Q17 sales is estimated to have grown about 8% YoY, on a reported basis, to $2.41Bil. In the whole of fiscal 2017, sales advanced 8% annually to $9.05Bil. The growth reflects strong sales performance by all product groups.
$ACET's finished dosage form generics subsidiary Rising Pharmaceuticals launched the first generic for Efavirenz Capsules. This is an FDA-approved generic version of the reference listed drug, Sustiva from $BMY, which in combination with other drugs is indicated for the treatment of HIV-1 infection in adults and pediatric patients.
$BMY announced that the Committee for Medicinal Products for Human Use of the European Medicines Agency recommended the approval of Yervoy for pediatric patients 12 years of age and older who have unresectable or metastatic melanoma. The CHMP recommendation will now be reviewed by the European Commission.
$ESRX's enterprise value initiative is currently estimated to cost approx. $600-650MM and to deliver cumulative savings of nearly $1.2Bil by 2021. The company's 2018 full-year guidance includes an estimated contribution of $65-75MM in expense savings affecting the Core and consolidated businesses.
For 2018, $ESRX expects adjusted diluted EPS to be $7.67-7.87, up 9-12% from the midpoint of the updated 2017 adjusted EPS guidance range. The company expects consolidated revenue to be $99-102Bil and Core revenue to be $80.5-83Bil. Total adjusted claims for the consolidated business is expected to be $1.34-1.39Bil.
$ESRX expects full-year 2017 total adjusted claims for its Core business to be 1.15-1.17Bil, which is flat over Core 2016 total adjusted claims at the midpoint of the range. The company expects Core 2017 adjusted EBITDA guidance to be $4.91-4.97Bil, representing growth of 3% over Core 2016 adjusted EBITDA results at the midpoint of the range.
$ESRX increased its consolidated 2017 adjusted EPS guidance range to $7.00-7.08, representing growth of 10% over 2016 adjusted EPS at the midpoint of the range. The company narrowed its consolidated 2017 adjusted EBITDA guidance from $7.35-7.47Bil to $7.37-7.45Bil, maintaining the midpoint of the range and up 2% over 2016.
$BMY declared a 2.6% hike in the quarterly dividend, beginning in 1Q18. The increase will result in a quarterly dividend of $0.40 per share. The next quarterly dividend will be payable on Feb. 1, 2018, to stockholders of record at the close of business on Jan. 5, 2018.
$BMY announced the FDA lifted partial clinical holds placed on CA209 -039 and CA204142, the phase 1 and 2 clinical trials investigating Opdivo (nivolumab)-based combinations in patients with relapsed or refractory multiple myeloma, respectively.
Medical equipment producer $CMD reported a 22% rise in its 1Q18 profit, helped by increased sales. Net income rose to $22.9MM, or $0.55 per share, from $18.8MM, or $0.45 per share during 1Q17. Adj. EPS was $0.57, up 12.7%. Total sales rose 22% YoY to $212.7MM, helped by organic growth of 8.6% and favourable impact from foreign currency of 0.4%.