On Tuesday, Constellation Brands, Inc (NYSE:STZ)’s shares declined -1.58% to $118.02, as after Constellation Brands, Inc (STZ), stated its fiscal 2015 results.
“We have accomplished another year of impressive results propelled by our Mexican beer business, which continues its incredible momentum and remains strongly positioned to generate ongoing sustainable growth. We outperformed the U.S. beer industry for the fifth successive year while achieving growth for every brand in our Mexican beer portfolio. And, our Nava brewery expansion is progressing as planned from a budget and timing of completion perspective,” said Rob Sands, president and chief executive officer, Constellation Brands. “Within our wine and spirits business, we achieved strong earnings growth and margin expansion, while delivering better than predictable results for our spirits portfolio. The collective strength of these businesses has offered the foundation that enables us to initiate a ordinary stock cash dividend for the first time in the history of our corporation, as declared earlier recently. This action reflects our confidence in the long-term sustainability of our business strategy, future growth potential and the predictable strength of our cash flows.”
Fiscal 2015 Net Sales Commentary
The 24 percent raise in merged net sales for the year was driven primarily by $941 million of incremental net sales due to the timing of the beer business attainment. Merged organic net sales on a constant currency basis raised five percent.
Net sales for the beer segment raised 12 percent primarily due to volume growth and favorable pricing. Beer depletions grew eight percent, reflecting strong consumer demand for all key brands within the beer portfolio. In addition, distributors raised their inventories during the second half of the year in an effort to align with historical levels and be better positioned to meet consumer demand heading into the key summer selling season.
“Our beer business delivered strong marketplace results and improved market share throughout the year driven by Modelo Especial, Corona Extra and Modelo Especial Chelada,” said Sands. “The outstanding performance of our beer business reflects ongoing excellent commercial execution by our distributors and sales team, exciting brand marketing initiatives, and expanded distribution for our portfolio.”
Constellation Brands, Inc., together with its auxiliaries, produces, imports, and markets beer, wine, and spirits in the United States, Canada, Mexico, New Zealand, and Italy. The corporation sells wine across various categories, counting table wine, sparkling wine, and dessert wine. Its wine brands comprise Arbor Mist, Black Box, Blackstone, Clos du Bois, Estancia, Franciscan Estate, Inniskillin, Kim Crawford, Mark West, Mount Veeder, Nobilo, Ravenswood, Rex Goliath, Robert Mondavi, Ruffino, Simi, Toasted Head, and Wild Horse; and Spirits Brands comprise Black Velvet Canadian Whisky and Svedka Vodka. Constellation Brands, Inc. primarily offers its products to wholesale distributors, retailers, on-premise locations, and government alcohol beverage control agencies.
Myriad Genetics, Inc (NASDAQ:MYGN)’s shares dropped -1.57% to $34.47, during the last trading session on Tuesday, after Myriad Genetics, Inc (MYGN), declared the expansion of its companion diagnostic partnership with AstraZeneca. Under the terms of the expanded contract, Myriad’s BRACAnalysis CDx test will be used to prospectively identify which patients with metastatic pancreatic cancer may respond to treatment with Lynparza(TM) (olaparib).1 Lynparza is a PARP (poly-ADP ribose polymerase) inhibitor being developed by AstraZeneca. More than 48,000 people are diagnosed with pancreatic cancer and more than 40,000 will die from the disease each year in the United States.
“Pancreatic cancer is one of the few cancers for which survival has not improved substantially in the last 40 years, and the average life expectancy after diagnosis with metastatic disease is three to six months,” said Mark Capone, president, Myriad Genetic Laboratories. “Our partnershipwith AstraZeneca is a big step forward in the fight against pancreatic cancer and in ensuring that personalized medicine becomes reality. BRACAnalysis CDx has the potential to quickly and accurately identify those patients who may be candidates for treatment with Lynparza and hopefully to accelerate better health outcomes.”
Myriad Genetics, Inc., a molecular diagnostic corporation, focuses on the development and marketing of predictive, personalized, and prognostic medicine tests in the United States and internationally. The corporation operates through three segments: Research, Molecular Diagnostics, and Pharmaceutical and Clinical Services.
At the end of Tuesday’s trade, Novavax, Inc (NASDAQ:NVAX)‘s shares dipped -1.56% to $8.19, after Novavax, Inc (NVAX), declared Stanley C. Erck, President and Chief Executive Officer, will present at the 14th Annual Needham Healthcare Conference at 8:00 a.m. ET, April 15, 2015 in New York City at the Westin Grand Central Hotel.
Novavax, Inc., a clinical-stage vaccine corporation, focuses on discovering, developing, and commercializing recombinant nanoparticle vaccines and adjuvants. The corporation produces its vaccines using its proprietary recombinant nanoparticle vaccine technology. Its product pipeline comprises respiratory syncytial virus (RSV) vaccine candidates for elderly and maternal immunization that are in Phase II clinical trials, in addition to pediatric respiratory syncytial virus candidate, which is in Phase I clinical trial; seasonal quadrivalent influenza and pandemic H7N9 vaccines, which are in Phase I clinical trials; vaccine candidate against Ebola Virus that is Phase I clinical trial, in addition to combination respiratory vaccine candidate, which is pre-clinical trial; and seasonal influenza vaccine candidate that is Phase III clinical trial, in addition to rabies G protein vaccine candidate, which is in Phase 1/2 clinical trial.
Arena Pharmaceuticals, Inc (NASDAQ:ARNA)’s shares dropped -1.54% to $4.49, during the last trading session on Tuesday, after Arena Pharmaceuticals, Inc (ARNA), declared the completion of two Phase 1 registrational clinical trials that Eisai and Arena believe demonstrate bioequivalence of an investigational once-daily extended release formulation of lorcaserin, as contrast to the twice-daily immediate release formulation approved by the US Food and Drug Administration (FDA) and marketed as BELVIQ®. If approved, the extended release formulation is predictable to be marketed as BELVIQ XR, which is the brand name conditionally approved by the FDA.
Arena Pharmaceuticals, Inc., a biopharmaceutical corporation, discovers, develops, and commercializes novel drugs that target G protein-coupled receptors. The corporation offers BELVIQ, a drug used to treat chronic weight administration in adults. It is also developing a portfolio of programs in various therapeutic areas, counting cardiovascular, central nervous system, and metabolic diseases.
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