During Wednesday’s current trade, Abbott Laboratories (ABT)’s shares gained 1.70%, to $47.90, hitting its highest level today.
Today, Abbott Laboratories (ABT), declared financial results for the first quarter ended March 31, 2015.
Highlight
- First-quarter worldwide sales of $4.9 billion raised 10.0 percent on an operational basis, counting double-digit growth in emerging markets. Worldwide sales raised 3.0 percent on a stated basis.
- Adjusted diluted EPS from ongoing operations, which excludes specified items, was $0.47 in the first quarter, above previous guidance range and representing growth of 38.2 percent. Stated diluted EPS from ongoing operations under GAAP was $0.35.
- Abbott’s full-year 2015 adjusted EPS guidance range for ongoing operations remains unchanged at $2.10 to $2.20. Projected full-year 2015 EPS for ongoing operations under GAAP is $1.33 to $1.43.
- In February, Abbott accomplished the sale of its developed markets branded generics pharmaceuticals business to Mylan. The Established Pharmaceuticals business is now focused entirely on emerging markets.
- Abbott launched several new products starting this year, counting FreeStyle® Libre Pro Flash Glucose Monitoring System for professional use in India; new slim-designed blood glucose meter FreeStyle Precision Neo in the U.S.; TECNIS® Multifocal Low Add and TECNIS Preloaded intraocular lenses (IOLs) in the U.S.; a new drug-eluting stent system XIENCE AlpineTM in Japan; and Ensure® for retail adult nutrition in China.
- In March, Abbott opened a new state-of-the-art nutrition pilot plant in Singapore, which also will serve as an R&D hub in Asia and allow Abbott to more rapidly incorporate local consumer preferences.
“We’re off to a good start this year, with particularly strong performance in our branded generics, international nutrition and global diagnostics businesses,” said Miles D. White, chairman and chief executive officer, Abbott.
Abbott Laboratories manufactures and sells health care products worldwide. Its Established Pharmaceutical Products segment offers branded generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency; irritable bowel syndrome; intrahepatic cholestasis or depressive symptoms; gynecological disorders; dyslipidemia; hypertension; hypothyroidism; pain, fever, and inflammation; hormone replacement therapy; anti-infective and influenza vaccines; and product that regulates physiological rhythm of the colon.
St. Jude Medical, Inc (STJ)’s shares jumped 6.34% to $73.50, during the current trading session Wednesday’s, hitting its highest level today.
Today, St. Jude Medical, Inc (STJ), stated sales and net earnings for the first quarter ended April 4, 2015.
First quarter 2015 highlights:
- Net sales raised by about 5 percent on a constant currency basis contrast to the preceding year quarter
- CardioMEMS™ HF System sales were about $17 million
- S. ablation catheter revenue doubled contrast to the preceding year quarter due to a strong launch of the Company’s FlexAbilityTM and TactiCathTM Quartz Contact Force ablation catheters
First Quarter 2015 Sales
The company stated net sales of $1.345 billion in the first quarter of 2015, a 1 percent decrease contrast to net sales of $1.363 billion in the first quarter of 2014. On a constant currency basis, net sales raised by about 5 percent contrast to the first quarter of 2014.
Commenting on the company’s financial results, St. Jude Medical Chairman, President and Chief Executive Officer Daniel J. Starks said, “St. Jude Medical’s first quarter revenue exceeded formerly declared guidance, driven by our growth in atrial fibrillation, neuromodulation and our CardioMEMS technology platform. These results reinforce our confidence that St. Jude Medical is on track to accelerate constant currency sales growth in 2015.”
St. Jude Medical, Inc., together with its auxiliaries, develops, manufactures and distributes cardiovascular medical devices for cardiac rhythm administration, cardiovascular, and atrial fibrillation therapy areas worldwide. It operates in two divisions, Implantable Electronic Systems, and Cardiovascular and Ablation Technologies.
In an afternoon trade, Teva Pharmaceutical Industries (TEVA)’s shares dipped -1.78%, to $63.02.
Today, Teva Pharmaceutical Industries (TEVA), declared that it has filed for premerger notification under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (HSR) with the U.S. Department of Justice Antitrust Division and the Federal Trade Commission regarding its projected acquisition of Mylan N.V. (MYL). As declared on April 21, 2015, Teva projected to attain Mylan for $82.00 per Mylan share, with the consideration to be comprised of about 50 percent cash and 50 percent stock. Teva’s proposal for Mylan implies a total equity value of about $43 billion and an enterprise value of about $50 billion.
The Teva Board and administration team are committed to consummating a transaction as soon as possible. The acquisition proposal would provide Teva stockholders with very attractive planned and financial benefits and Mylan stockholders with a substantial premium and immediate value for their shares, in addition to the opportunity to take part in the noteworthyupside potential of the combined company – one that would transform the global generics space and leverage it to hold a unique leadership position in the pharmaceutical industry.
Teva has carefully studied the regulatory aspects of a combination of Teva and Mylan, in conjunction with its advisors. Teva is confident that it would be able to structure a transaction that would not contain material impediments to closing and that it can determine and promptly implement divestitures, as necessary, to gain regulatory clearances. Teva intends to work cooperatively with antitrust authorities and anticipates that the projected transaction can be accomplished by year-end 2015.
Barclays and Greenhill & Co. are serving as financial advisors to Teva. Kirkland & Ellis LLP and Tulchinsky Stern Marciano Cohen Levitski & Co are serving as legal counsel to Teva, with De Brauw Blackstone Westbroek N.V. and Loyens & Loeff N.V. acting as legal advisors in the Netherlands.
Teva Pharmaceutical Industries Limited develops, manufactures, markets, and distributes generic, specialty, and other pharmaceutical products worldwide. The company operates in two segments, Generic Medicines and Specialty Medicines. The Generic Medicines segment offers generic or branded generic medicines; specialized products, such as sterile products, hormones, narcotics, high-potency drugs, and cytotoxic substances; and active pharmaceutical ingredients. The Specialty Medicines segment provides branded specialty medicines for use in central nervous system and respiratory indications, in addition to the womens health, oncology, and other specialty businesses.
Agilent Technologies Inc (A), during its Wednesday’s current trading session dwindled -0.65% to $42.61.
Today, Agilent Technologies Inc (A), and Scion Instruments recently declared a gas chromatography instrument control contract. This exchange contract provides customers the freedom to operate instruments from both manufacturers in each company’s chromatography data systems.
The companies will exchange development documentation and royalty-free licenses of driver software for the integration of each other’s GC instruments into their respective chromatography data systems. With the development of these drivers, GC systems from either manufacturer will be integrated into Agilent’s OpenLAB CDS EZChrom Edition and Scion’s CompassCDS chromatography data systems.
With Agilent’s Instrument Control Framework and Rapid Control driver technology, Scion’s 3000- and 400-series gas chromatographs—counting the latest SCION 436 and 456 models—can be used with Agilent’s OpenLAB CDS software. Likewise, Scion’s CompassCDS will support Agilent’s 6890 and 7890 Series gas chromatographs.
“Scion is dedicated to providing the best solutions for individual customer needs, counting multi-vendor support in our chromatography data systems,” said Dan Klopp, CEO of Scion Instruments. “With this contract, we continue a rich legacy of customer focused improvements to our software and systems.”
Agilent Technologies, Inc. provides bio-analytical solutions and services to the life sciences, diagnostics and genomics, chemical analysis, communications, and electronics industries worldwide. The company’s Life Sciences and Diagnostics segment offers liquid chromatography systems, columns, and components; liquid chromatography mass spectrometry systems; laboratory software and informatics systems; laboratory automation and robotic systems; dissolution testing; nucleic acid solutions; nuclear magnetic resonance, magnetic resonance imaging, and X-ray diffraction systems; immunohistochemistry; in situ hybridization; hematoxylin and eosin staining; special staining, DNA mutation detection; genotyping; gene copy number determination; identification of gene rearrangements; DNA methylation and gene expression profiling; next generation sequencing target enrichment; and automated gel electrophoresis-based sample analysis systems.
AVEO Pharmaceuticals, Inc. (AVEO)’s shares raised 11.98% to $2.15, during the current trading session Wednesday’s.
Today, AVEO Pharmaceuticals, (AVEO), declared the appointment of Keith S. Ehrlich to the position of chief financial officer. In this role, Mr. Ehrlich will be responsible for the company’s financial and administrative strategy and administration, and will serve on the executive leadership team which governs corporate strategy. He will report to Michael Bailey, AVEO’s president and chief executive officer.
“Keith is a seasoned executive with deep experience in developing and executing financial and corporate strategy for biotechnology companies at various stages of growth,” said Michael Bailey, president and chief executive officer. “We look forward to his contributions at AVEO as we seek to continue leveraging biomarker strategies and partnership opportunities to advance our pipeline of drug candidates.”
“AVEO’s multi-product, clinical-stage portfolio offers a number of opportunities and avenues for realizing shareholder value,” said Mr. Ehrlich. “As part of the AVEO administration team, I look forward to supporting the planned advancement of these programs, both from a financial and corporate strategy perspective.”
AVEO Pharmaceuticals, Inc., a biopharmaceutical company, develops targeted therapies for patients with cancer and related diseases. Its product candidates under development comprise Tivozanib, an tyrosine kinase inhibitor for various vascular endothelial growth factors; Ficlatuzumab, a hepatocyte growth factor inhibitory antibody, which has accomplished Phase II trial; and AV-203, an anti-ErbB3 monoclonal antibody that has accomplished a Phase I dose escalation study. The company’s development programs also comprise AV-380 Program, a humanized IgG1 inhibitory monoclonal antibody for the treatment or prevention of cachexia, which is a multi-factorial syndrome of involuntary weight loss associated with various cancers and diseases outside of cancer.
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