Oct 30 - Mylan Inc. said Thursday its third-quarter profit grew 15 percent due to sales from the Merck KGaA generic business, which it bought last year, and deferred revenue from the sale of a blood pressure drug.
Net income rose to $172 million, or 45 cents a share, from $149.8 million, or 60 cents a share, a year earlier. Excluding one-time gains, Mylan said its profit was $105.4 million, or 23 cents per share still much larger than analysts expected. Revenue more than tripled to $1.66 billion from $477.1 million a year ago. Most of that gain came from the Merck KGaA generic business, which Mylan bought in October 2007. Mylan gained $687.2 million in revenue from the Merck KGaA generic unit, which gave the company entry into the markets of Europe, the Middle East, Africa, and the Asia-Pacific region. It recognized $455 million in deferred revenue from the Bystolic sale.
Analysts Expectation:
Analysts expected a profit of 11 cents per share on $1.15 billion in revenue, according to Thomson Reuters. Those estimates typically exclude one-time items.
Full Year Outlook: Raised
The generic drug maker boosted its outlook for 2008, in part based on strong sales of its fentanyl pain product. It affirmed its outlook for the next two years. Mylan increased its full-year earnings-per-share forecast, excluding items, to a range of 64 cents to 67 cents, from a prior outlook of 47 cents to 53 cents.
Reaction of the Earnings:
Mylan shares were up $1.52, or 21.8 percent, at $8.50 in early New York Stock Exchange trading.
Friday, October 31, 2008
Third-quarter Earning of Eli Lilly and Co.
Oct 23, Eli Lilly and Co. said an expected settlement of investigations into top-selling drug Zyprexa wiped out its third-quarter profit, but the drugmaker's adjusted earnings still beat Wall Street expectations.
Eli Lilly lost $465.6 million, or 43 cents per share. Last year it earned $926.3 million, or 85 cents per share, in the same quarter. Excluding charges that included almost $1.5 billion for the settlement, Lilly earned $1.04 per share. Sales climbed 14 percent to $5.21 billion from $4.59 billion. Lilly saw overall sales volume grow 6 percent in the quarter, driven by big increases for several products. Sales for the anti-psychotic Zyprexa rose 2 percent to $1.19 billion.
Analysts’ Expectation:
Thomson Reuters says analysts were expecting a profit of $1.02 per share and revenue of $5.09 billion, excluding the payment.
Full Year’s Earning Forecast:
Based on the third-quarter results, Lilly raised its adjusted profit forecast to $3.97 to $4.02 per share, up from $3.85 to $4 per share. Including the Zyprexa settlement, however, the company now expects a profit of $2.44 to $2.49 per share - down from $3.79 to $3.94 per share. Analysts expected a profit of $3.95 per share on $20.55 billion in revenue. On Oct. 6, Lilly agreed to buy ImClone accepted for more than $6 billion, or $70 per share.
Reaction of the Earning:
The company's stock price rose 2 percent, or 64 cents, in Thursday morning trading to $32.75 and at the end of the day it rose more than 4%.
Eli Lilly lost $465.6 million, or 43 cents per share. Last year it earned $926.3 million, or 85 cents per share, in the same quarter. Excluding charges that included almost $1.5 billion for the settlement, Lilly earned $1.04 per share. Sales climbed 14 percent to $5.21 billion from $4.59 billion. Lilly saw overall sales volume grow 6 percent in the quarter, driven by big increases for several products. Sales for the anti-psychotic Zyprexa rose 2 percent to $1.19 billion.
Analysts’ Expectation:
Thomson Reuters says analysts were expecting a profit of $1.02 per share and revenue of $5.09 billion, excluding the payment.
Full Year’s Earning Forecast:
Based on the third-quarter results, Lilly raised its adjusted profit forecast to $3.97 to $4.02 per share, up from $3.85 to $4 per share. Including the Zyprexa settlement, however, the company now expects a profit of $2.44 to $2.49 per share - down from $3.79 to $3.94 per share. Analysts expected a profit of $3.95 per share on $20.55 billion in revenue. On Oct. 6, Lilly agreed to buy ImClone accepted for more than $6 billion, or $70 per share.
Reaction of the Earning:
The company's stock price rose 2 percent, or 64 cents, in Thursday morning trading to $32.75 and at the end of the day it rose more than 4%.
Shah added in his Portfolio: Merck & Co. Inc. (MRK)
Shah added to his holdings in Merck & Co. Inc. by 40.73%. The impact to his portfolio due to this purchase was 1.04%. His holdings were 22,371,200 shares as of 09/30/2008.
Merck & Co. Inc. is a global research-driven pharmaceutical company dedicated to putting patients first. Established in 1891 Merck discovers develops manufactures and markets vaccines and medicines to address unmet medical needs. The company devotes extensive efforts to increase access to medicines through far-reaching programs that not only donate Merck medicines but help deliver them to the people who need them. Merck also publishes unbiased health information as a not-for-profit service. Merck & Co. Inc. has a market cap of $64.68 billion; its shares were traded at around $28.68 with a P/E ratio of 14.45 and P/S ratio of 2.55. The dividend yield of Merck & Co. Inc. stocks is 5.33%.
Merck & Co. Inc. is a global research-driven pharmaceutical company dedicated to putting patients first. Established in 1891 Merck discovers develops manufactures and markets vaccines and medicines to address unmet medical needs. The company devotes extensive efforts to increase access to medicines through far-reaching programs that not only donate Merck medicines but help deliver them to the people who need them. Merck also publishes unbiased health information as a not-for-profit service. Merck & Co. Inc. has a market cap of $64.68 billion; its shares were traded at around $28.68 with a P/E ratio of 14.45 and P/S ratio of 2.55. The dividend yield of Merck & Co. Inc. stocks is 5.33%.
Friday, October 17, 2008
Abbott Laboratories reported 18% Revenue increased raising their Full Year Outlook
In October 15, Abbott Laboratories reported a net income of 1.084 billion or $0.69 per share compared to $717.005 million or $0.46 per share last year.
Excluding specified items net income came in at $1.235 billion or $0.79 per share compared to $1.046 billion or $0.67 per share a year ago. On average, 14 analysts polled by First Call/Thomson Financial expected the company to earn $0.77 per share. Gross margin inched up to 55.3% from 55.1%. Revenue overall rose 18 percent to $7.5 billion. Worldwide sales increased 17.6% $7.497 billion, including a favorable 4.7% effect of exchange rates, compared to $6.377 billion in the prior year. Analysts were looking for $7.35 billion.
Outlook:
The company raised its outlook full-year 2008 to $3.31 - $3.33 per share from $3.24 - $3.28 per share, excluding specified items. Abbott reaffirmed the net specified items for the full-year 2008 of $0.08 per share, primarily associated with cost reduction initiatives and acquired in-process R&D. Including the specified items, projected earnings per share under GAAP would be $3.23 - $3.25 for the full-year 2008.
Abbott's original guidance range for 2008, provided in January, was $3.20 - $3.25. Wall Street was expecting $3.28 per share, with estimates in the range of $3.21-$3.30 per share.
Excluding specified items net income came in at $1.235 billion or $0.79 per share compared to $1.046 billion or $0.67 per share a year ago. On average, 14 analysts polled by First Call/Thomson Financial expected the company to earn $0.77 per share. Gross margin inched up to 55.3% from 55.1%. Revenue overall rose 18 percent to $7.5 billion. Worldwide sales increased 17.6% $7.497 billion, including a favorable 4.7% effect of exchange rates, compared to $6.377 billion in the prior year. Analysts were looking for $7.35 billion.
Outlook:
The company raised its outlook full-year 2008 to $3.31 - $3.33 per share from $3.24 - $3.28 per share, excluding specified items. Abbott reaffirmed the net specified items for the full-year 2008 of $0.08 per share, primarily associated with cost reduction initiatives and acquired in-process R&D. Including the specified items, projected earnings per share under GAAP would be $3.23 - $3.25 for the full-year 2008.
Abbott's original guidance range for 2008, provided in January, was $3.20 - $3.25. Wall Street was expecting $3.28 per share, with estimates in the range of $3.21-$3.30 per share.
Johnson & Johnson in 14 October reported a 30% jump in third-quarter profit
Health care giant Johnson & Johnson in 14 October reported a 30% jump in third-quarter profit, beating Wall Street expectations, due to higher sales of consumer products and medical devices and a large restructuring charge a year ago.
JNJ earned $3.31 billion or $1.17 per share in the quarter compared with $2.55 billion, or 88 cents per share, in the year-earlier period, when the company took restructuring charges. Revenue climbed 6.3%, to $15.9 billion from $14.97 billion. Quarterly sales rose 6.4% to $15.92 billion, somewhat higher than the Reuters Estimates forecast of $15.71 billion. Sales of consumer products, which range from Band-Aids to Listerine mouthwash, rose 13.1% to $4.1 billion. Medical device sales rose 8.8% to $5.71 billion, although sales of the company's Cypher drug-coated stent fell more than 20% to $289 million due to competition. Prescription drug sales edged up 0.2% to $6.11 billion, was hurt by the U.S. patent expiration in June.
Analysts Expectation:
Analysts surveyed by Thomson Financial expected earnings per share of $1.11 and revenue of $15.69 billion. Jan Wald, an analyst with Stanford Group Co, said J&J posted solid results thanks largely to its diversified nature, although he does not expect its pharmaceuticals sales to greatly improve for another two to three years -- after new products are approved.
Full Year Outlook: Raised
Johnson & Johnson raised its full-year profit forecast to $4.50 to $4.53 per share, excluding one-time charges and other items. During the last quarter, it had forecast a profit of $4.45 to $4.50 a share.
For the first nine months, net income jumped 25%, to $10.24 billion, or $3.60 per share, up from $8.2 billion, or $2.81 per share. Revenue was up 7.6%, to $48.57 billion from $45.14 billion.
Reaction of the Earnings:
Shares of J&J rose 5.9 percent to $66.40 in morning trading on the New York Stock Exchange.
JNJ earned $3.31 billion or $1.17 per share in the quarter compared with $2.55 billion, or 88 cents per share, in the year-earlier period, when the company took restructuring charges. Revenue climbed 6.3%, to $15.9 billion from $14.97 billion. Quarterly sales rose 6.4% to $15.92 billion, somewhat higher than the Reuters Estimates forecast of $15.71 billion. Sales of consumer products, which range from Band-Aids to Listerine mouthwash, rose 13.1% to $4.1 billion. Medical device sales rose 8.8% to $5.71 billion, although sales of the company's Cypher drug-coated stent fell more than 20% to $289 million due to competition. Prescription drug sales edged up 0.2% to $6.11 billion, was hurt by the U.S. patent expiration in June.
Analysts Expectation:
Analysts surveyed by Thomson Financial expected earnings per share of $1.11 and revenue of $15.69 billion. Jan Wald, an analyst with Stanford Group Co, said J&J posted solid results thanks largely to its diversified nature, although he does not expect its pharmaceuticals sales to greatly improve for another two to three years -- after new products are approved.
Full Year Outlook: Raised
Johnson & Johnson raised its full-year profit forecast to $4.50 to $4.53 per share, excluding one-time charges and other items. During the last quarter, it had forecast a profit of $4.45 to $4.50 a share.
For the first nine months, net income jumped 25%, to $10.24 billion, or $3.60 per share, up from $8.2 billion, or $2.81 per share. Revenue was up 7.6%, to $48.57 billion from $45.14 billion.
Reaction of the Earnings:
Shares of J&J rose 5.9 percent to $66.40 in morning trading on the New York Stock Exchange.
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