On Thursday, Depomed Inc (NASDAQ:DEPO)’s shares declined -4.40% to $15.41.
Depomed, Inc. (DEPO) issued the following statement in response to numerous recent reports surrounding Horizon Pharma plc’s (HZNP) (“Horizon”) business model, in particular concerns raised about aggressive drug pricing practices and Horizon’s use of specialty pharmacies:
Depomed’s Board unanimously rejected Horizon Pharma’s unsolicited exchange offer on September 11, 2015. In Depomed’s Plan 14D-9 filed with the SEC on September 14, 2015, the Company highlighted the Board’s reservations about Horizon’s business model and strategy, while observing that the nature of Horizon’s business model had the potential to lead to noteworthy volatility in the price of Horizon stock. Importantly, numerous reports in the past days – from major media outlets to the firm that establishes one of the largest drug formularies – have reiterated and validated these serious concerns.
For example:
- A September 23, 2015 note issued by Express Scripts, one of the largest managers of drug formularies, to its clients criticizes Horizon’s price enhances, comparing Horizon to Turing Pharmaceuticals, and notes that Horizon, after purchasing the rights to Vimovo and with its own product, Duexis, “soon raised the prices on these older products more than tenfold. This isn’t innovation. Akin to a spike in gas and plywood prices just ahead of a hurricane, this is profiteering.”
- An October 19, 2015 article in The New York Timestalk about noteworthy concerns about Horizon’s Prescriptions Made Easy (“PME”) program and notes that Duexis is “a combination of two old drugs, the generic equivalents of Motrin and Pepcid”, which “if prescribed separately… would cost no more than $20 or $40 a month”, however “Duexis, which contains both in a single pill, costs about $1,500 a month.”
Depomed, Inc., a specialty pharmaceutical company, develops products for pain and other central nervous system conditions in the United States. It offers Gralise (gabapentin), an once-daily product for the administration of postherpetic neuralgia; CAMBIA (diclofenac potassium for oral solution), a non-steroidal anti-inflammatory drug indicated for acute treatment of migraine attacks in adults; Zipsor (diclofenac potassium) liquid filled capsule, a non-steroidal anti-inflammatory drug for the treatment of mild to moderate acute pain in adults; and Lazanda (fentanyl) nasal spray, an intranasal fentanyl drug used to manage breakthrough pain in adults.
Textron Inc. (NYSE:TXT)’s shares gained 1.50% to $39.17.
Textron Systems Geospatial Solutions, a business of Textron Inc. (TXT), declared the release and availability of its newest product, the RemoteView™ 4 geospatial intelligence (GEOINT) software on the Linux operating system. The Linux-based RemoteView 4 offers the same advanced imagery exploitation capabilities as on the Windows®-based RemoteView 4 software, giving customers a choice in application programs and embedded systems.
The RemoteView 4 has an extensive set of GEOINT tools that enhance the intelligence gathering and analysis process, providing an analyst-centric graphical user interface (GUI), streamlined navigation, in addition to workflow aligned toolbars and profiles, which can be customized by individual users and analytical teams. The intuitive design and alignment of these tools, with functional workflows, enable RemoteView 4 users to quickly learn and master the software’s full range of capabilities.
Textron Systems developed a Linux version of its premier software as part of an international teaming venture in 2014. The Linux conversion project comprised of numerous enhancements to the analytical workflows and tools used to imagery exploitation and manipulation.
Textron Inc. operates in the aircraft, defense, industrial, and finance businesses worldwide. It operates through five segments: Textron Aviation, Bell, Textron Systems, Industrial, and Finance.
At the end of Thursday’s trade, Polaris Industries Inc. (NYSE:PII)‘s shares surged 1.97% to $109.95.
Polaris Industries Inc. (PII) stated record third quarter net income of $155.2 million for the quarter ended September 30, 2015, an enhance of ten percent from the preceding year’s third quarter net income of $140.8 million. Earnings per share were a record $2.30 per diluted share for the third quarter of 2015 contrast to $2.06 per diluted share for the same period in 2014. Sales for the third quarter 2015 totaled a record $1,456.0 million, an enhance of 12 percent over last year’s third quarter sales of $1,302.3 million.
2015 Business Outlook
For the full year 2015, the Company is narrowing its earnings guidance range to $7.37 to $7.42 per diluted share, an enhance of 11 to 12 percent over full year 2014 earnings of $6.65 per diluted share. Full year 2015 sales are now predictable to grow in the range of 10 to 11 percent when contrast to 2014.
Snowmobile sales raised 14 percent to $185.5 million for the third quarter of 2015 contrast to $162.7 million for the third quarter of 2014. The enhance is due to an raised quantity and richer mix of snowmobiles being shipped in the 2015 third quarter contrast to the same period a year ago. While the snowmobile retail selling season is just starting, Polaris’ market share performance season-to-date through the 2015 third quarter is pacing with the Company’s expectations, led by the award-winning model year 2016 PRO-RMK, the lightest mountain sled on the market. As planned, Polaris North American snowmobile dealer inventories during the third quarter of 2015 raised significantly year-over-year in preparation for the forthcoming snowmobile retail selling season.
Polaris Industries Inc., together with its auxiliaries, designs, engineers, manufactures, and markets off-road vehicles, snowmobiles, motorcycles, and small vehicles primarily in the United States, Canada, Western Europe, Australia, and Mexico.
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