$ACET (Aceto Corp.)

$ACET {{ '2016-09-16T14:57:33+0000' | timeago}} • Announcement

Rising Pharmaceuticals, Inc., a generics subsidiary of $ACET, is unveiling its Fluocinolone Acetonide OTIC Oil, an FDA approved generic version of Hill Dermaceuticals Inc.'s DermOtic. This product is used in the treatment of chronic eczematous external otitis, an inflammatory condition of ear canal.

$ACET {{ '2017-09-27T21:35:47+0000' | timeago}} • Announcement

$ACET has appointed William C. Kennally, III, as President and CEO, effective October 2, 2017. CEO Salvatore Guccione has stepped down from all positions with $ACET effective September 27, 2017.

$ACET {{ '2017-08-25T17:55:55+0000' | timeago}} • Webcast

$ACET said it has 39 ANDAs awaiting approval from the FDA and another 71 products under development that will continue to get filed. The company is also increasing its R&D spend in FY18. $ACET believes this investment and pipeline will allow it to launch a fair number of products going into 2018 and 2019.

$ACET {{ '2017-08-25T17:27:59+0000' | timeago}} • Webcast

In 4Q17, $ACET filed four new additional Abbreviated New Drug Applications (ANDA), bringing the total number of ANDAs on file with the FDA to 39. The company plans to launch between 15-20 generic products during FY18.

$ACET {{ '2017-08-25T17:20:11+0000' | timeago}} • Webcast

During 4Q17, $ACET reported adjusted net income of $9.6MM or $0.27 per share. Increased competition and customer consolidation in the generic pharmaceutical industry continued to create headwinds for the company during the quarter which it partially offset through the launch of nine new generic products.

$ACET {{ '2017-08-25T12:51:55+0000' | timeago}} • Announcement

Regarding the FY18 outlook, $ACET expects the total revenues to go up by 20 to 25% and the diluted GAAP earnings per share to increase between $0.55 and $0.70. The company’s R&D expense would be in the range of $10MM to $13MM and in the fiscal it plans to launch 15 to 20 products.

$ACET {{ '2017-08-25T12:49:33+0000' | timeago}} • Announcement

The Human Health segment sale of $ACET was $113.7MM, an increase of 115.6% during 4Q17 but sale in the Pharmaceutical Ingredients wing decreased by 14.9% to $36.2MM driven by a drop in sale of APIs. Riding on higher demand for specialty chemicals, the sale in Performance Chemicals division was $44.7MM, a spike of 11.3% compared to last year.

$ACET {{ '2017-08-25T12:46:09+0000' | timeago}} • Announcement

4Q17 turned out to be a bitter pill to swallow for $ACET, a generic pharma firm, as its net income shrunk 71% to $2MM, due to stiff competition among market players in generic drugs. And the EPS dipped 73.9% to $0.06. The acquisition of Citron and Lucid products had a positive sway on net sales as it touched $194.6MM against $135.4MM, a year ago.

$ACET {{ '2017-08-24T16:58:25+0000' | timeago}} • Announcement

$ACET's BoD declared a regular quarterly dividend of $0.065 per common share, payable on September 21, 2017 to shareholders of record on September 8, 2017.

$ACET {{ '2017-06-20T14:58:15+0000' | timeago}} • Announcement

$ACET said its finished dosage form generics subsidiary Rising Pharmaceuticals has launched Glipizide Extended Release Tablets, an FDA-approved generic version of the reference listed drug, Glucotrol XL from $PFE. Glipizide are indicated as an adjunct to diet and exercise to improve glycemic control in adults with type 2 diabetes.

$ACET {{ '2017-06-20T14:56:43+0000' | timeago}} • Announcement

$ACET said its finished dosage form generics subsidiary Rising Pharmaceuticals has launched an FDA-approved generic version of Chlorthalidone Tablets, 25 mg and 50 mg, which are indicated for the management of hypertension.

$ACET {{ '2017-05-05T17:41:05+0000' | timeago}} • Webcast

$ACET’s DSOs increased during 3Q17 and some of it was related to the company’s rising business including the new elements of Citron and Lucid. Additionally, the company’s other segments also increased because of the timing of the sales. Currently on a TTM basis, $ACET is north of 100 days and expects it to come down in the non-generic business.

$ACET {{ '2017-05-05T14:44:49+0000' | timeago}} • Announcement

In 3Q17, $ACET's Human Health segment sales were $99.8MM, an increase of 69.8%, while Pharmaceutical Ingredients segment sales were $43.8MM, down 4.4%. Sales in Performance Chemicals segment declined 12.8% to $46.5MM.

$ACET {{ '2017-05-05T14:40:25+0000' | timeago}} • Announcement

Higher costs played dampener to $ACET's 3Q17 earnings, which halved despite a 20% growth in net sales to $190.1MM. Net income was $5.6MM, or $0.16 per share, compared to $10.4MM, or $0.35 per share in the year-over quarter. On an adjusted basis, $ACET earned $0.39 per share.

$ACET {{ '2017-05-04T19:10:23+0000' | timeago}} • Announcement

$ACET's BoD declared a regular quarterly cash dividend of $0.065 per common share. This dividend will be distributed on June 23, 2017 to shareholders of record as of June 9, 2017.

$ACET {{ '2017-02-03T14:43:56+0000' | timeago}} • Announcement

During 2Q17, $ACET's Human Health segment sales fell 8.6% YoY to $54MM, mainly due to increased competition and price erosion on certain products at Rising. Pharmaceutical Ingredients segment sales rose 7.4% to $36.8MM, helped by higher volumes of intermediates sold abroad. Performance Chemicals segment sales fell 9.3% YoY to $34.8MM.

$ACET {{ '2017-02-03T14:41:54+0000' | timeago}} • Announcement

Pharmaceutical intermediates and ingredients developer $ACET reported 2Q17 net loss of $0.56MM, or $0.02 per share, compared to net income of $8.27MM, or $0.28 per share in 2Q16. Excluding items, $ACET earned $0.24 per share, down 33.3% from $0.36 in 2Q16. Net sales fell 4.6% YoY to $125.6MM.

$ACET {{ '2017-02-02T20:55:31+0000' | timeago}} • Announcement

$ACET appointed Vimal Kavuru to its BoD, effective Feb. 2, 2017. Since 2013, Kavuru has been the CEO and a founder of Citron Pharma LLC and Lucid Pharma LLC, from which Aceto subsidiary Rising Pharmaceuticals acquired certain generic products and related assets in December 2016.

$ACET {{ '2017-02-02T20:27:58+0000' | timeago}} • Announcement

$ACET's BoD declared a regular quarterly dividend of $0.065 per common share. This dividend will be payable on March 24, 2017 to shareholders of record as of March 10, 2017.

$ACET {{ '2016-12-21T15:03:42+0000' | timeago}} • Announcement

$ACET completed, through its subsidiary Rising Pharmaceuticals, the acquisition of generic products and related assets of Citron Pharma LLC and its affiliate Lucid Pharma LLC. The total consideration, prior to any potential earn-out payments, is about $429MM, or $349MM, net of about $80MM of expected tax benefits.

$ACET {{ '2016-12-01T19:25:56+0000' | timeago}} • Announcement

$ACET's BoD declared a regular quarterly dividend of $0.065 per common share, payable on Dec. 22, 2016 to shareholders of record as of Dec. 12, 2016.

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