More From Jillian Dabney
Understanding Pfizer’s 3Q16 Performance
During 3Q16, Pfizer (PFE) recorded revenue amounting to $13 billion. Excluding the impact of foreign exchange, the company’s revenue rose 8% annually.
Inside BioMarin’s Big Plans for 3Q16
BioMarin decided to withdraw its MAA (Marketing Authorization Application), given the expectation of a negative decision on the drug from the EMA.
How Vertex’s Revenue and Earnings Surprised in 2Q16
Vertex Pharmaceuticals (VRTX) reported its 2Q16 earnings on July 27, 2016. VRTX surpassed Wall Street analysts’ projections and reported revenue of $431.6 million.
Can Valeant’s Margins for 2Q16 Meet Expectations?
During 4Q15 and 1Q16, Valeant Pharmaceuticals’ (VRX) net margin turned negative. That followed its struggling high-margin dermatology products and the foreign exchange impact.
Is Novo Nordisk Trading at a Discount or Premium?
For the last five years, Novo Nordisk (NVO) has been trading at higher multiples when compared with peers.
What Are Analysts’ Recommendations for LifePoint and Its Peers?
LifePoint released earnings for 4Q15 and 2015 on February 12, 2016. Following the earnings release, analysts revised their recommendations on the company.
BioMarin Has Suffered from Kyndrisa’s Rejection
The recent fall in BioMarin’s stock price is due to the rejection of its drug Kyndrisa, indicated for Duchenne muscular dystrophy.
Analysts’ Expectations for Sanofi
According to a March 3, 2016, Bloomberg consensus of five brokerage firms, 60% of brokerage firms rated Sanofi as a “buy,” while 40% of the broker firms rated the company as a “hold.”
Regeneron Continues to Trade at Premium
Regeneron is consistently trading at a premium compared to its peers. As of January 22, it was trading at a valuation multiple of 26.67x its earnings.
Why Does Valeant’s Valuation Seem to Be at a Discount?
Using relative valuation, Valeant’s forward EV-to-EBITDA multiple was 6.87x on January 28, 2016. EV-to-EBITDA multiples for Merck, Sanofi, and Pfizer were 8.99x, 9.22x, and 8.99x, respectively.
Eylea’s Net Sales in the US Jumped in 4Q15, but Was It High Enough?
Eylea, the leading product in Regeneron Pharmaceuticals’s (REGN) portfolio, fetched $746 million during the fourth quarter of 2015 in the US.
Analyzing Novo’s Revenue Growth in 3Q16
During 3Q16, Novo Nordisk’s (NVO) net sales rose 2.8% to 27.5 billion Danish kroner from 26.8 billion Danish kroner in 3Q15.
How Much Did the New Generation Insulin Fetch for Novo in 1Q16?
During 1Q16, NVO generated ~77% of its total revenue from its diabetes portfolio. New generation insulin includes sales from Tresiba, Xultophy, and Ryzodeg.
Listing the Reasons behind Pfizer’s Discounted Price-to-Earnings
Considering the robust growth prospects for many of its products going forward, Pfizer should return to robust top line growth.
What Do Analysts Recommend for Medivation?
According to a Bloomberg consensus of 21 brokerage firms dated May 9, 57.9% rated Medivation a “buy” and 42.1% rated it a “hold.”
Understanding the Recent Fall in Bristol-Myers Squibb’s Valuation
On October 4, 2016, Bristol-Myers Squibb (BMY) was trading at a forward PE (price-to-earnings) multiple of 16.8x. With products Opdivo and Yervoy, the company leads the immuno-oncology space.
Why Novo Nordisk Fell after Its 4Q15 Earnings Release
After the announcement of Novo Nordisk’s earnings for 4Q15 and fiscal 2015, the stock tumbled by ~6%.
Medivation Is for Sale: How Much Should It Get?
Considering the prospects for the pipeline, Medivation should get more than what Sanofi offered. It will probably get more than what Pharmacyclics received.
What Are the Challenges for the Pharmaceutical Industry in Japan?
Japan is the second-largest individual pharmaceutical market in the world. It accounts for less than 10% of the total global pharma market.
How Xtandi Fueled Big Pharmaceutical Interest in Medivation
Xtandi is the major factor behind Pfizer’s (PFE) interest in Medivation (MDVN). The drug, along with MDVN’s pipeline molecules, should strengthen Pfizer’s (PFE) oncology franchise.
What’s BioMarin’s Expected Revenue Growth in 2016 and 2017?
During its 2Q16 earnings call, BioMarin revised its 2016 revenue guidance. It now expects revenue to be $1.1 billion–$1.15 billion.
Valeant Pharmaceuticals: An Inorganic Growth Story
Valeant Pharmaceuticals International (VRX) has grown inorganically through highly leveraged acquisitions. From 2008 to 2015, it acquired more than 100 companies.
Pfizer’s Medivation Acquisition: What You Need to Know
On August 22, Medivation (MDVN) and Pfizer (PFE) entered into a definitive agreement. Pfizer will acquire Medivation for a consideration of ~$14 billion.
What’s the Story behind the Pfizer-Medivation Deal?
Medivation’s portfolio complements Pfizer’s existing oncology portfolio that includes solid tumors, hematology, and immunology-oncology.
What Does Valeant’s Institutional Ownership Look Like?
Of its total outstanding shares, Valeant Pharmaceuticals’ (VRX) institutional ownership stood at 69.2%.
A Close Look at Valeant’s Core Business
Valeant’s (VRX) core business includes its dermatology and consumer franchise business and the acquired Bausch + Lomb and Salix Pharmaceuticals businesses.
Inside Bristol’s Key to Success: Multiple Labels for Opdivo
Opdivo’s significant regulatory advances over the past quarter include approval for head and neck cancer indications, among others.
Inside Mallinckrodt’s Major Valuation Catalysts
Acthar is Mallinckrodt’s (MNK) leading product, and the company plans to achieve mid-single-digit to low-double-digit growth for the drug in fiscal 2016.
BioMarin to Cross $1 Billion Revenue in 2016
BioMarin Pharmaceutical (BMRN) expects its existing commercialized drugs to add $1.1 billion and $1.2 billion to its top line in 2016.
Inside Alexion’s Metabolic Drugs Kanuma and Strensiq
In 1Q16, Strensiq added $33.2 million to Alexion Pharmaceuticals’ top line. Now the drug is in its initial launch phase in the US, Germany, and Japan.
Is Gilead Sciences Stock Oversold?
When compared with its estimated $30.2 billion total revenue for 2016, Gilead Sciences’s (GILD) $99 billion market capitalization on November 23 seemed to be at a greater discount. GILD had a forward PE ratio of ~7.0x against its peers’ average PE of ~12.1x.
Is Valeant a Good Bet on a Price-to-Earnings Basis?
On August 11, 2016, Valeant Pharmaceuticals (VRX) was trading at a forward PE (price-to-earnings) multiple of ~3.0x.
BioMarin: Why So Many ‘Buy’ Recommendations?
BioMarin (BMRN) is expected to report 2Q16 earnings on August 4, 2016. “Buy” ratings have increased to 94.7% from 90% on June 29, 2016.
What to Expect from Valeant’s Upcoming Q216 Earnings
Wall Street analysts anticipate that Valeant will record $2.47 billion and $2.54 billion total revenue for 2Q16 and 3Q16, respectively.
Worst-Case Scenario for Regeneron: What If Eylea Sales Slow Down by 2018?
Regeneron Pharmaceuticals (REGN) depends heavily upon its key drug, Eylea, which recorded global sales of $4.1 billion during fiscal 2015.
How Did Novo’s Biopharmaceuticals Segment Perform in 3Q16?
Novo’s (NVO) Biopharmaceuticals segment rose 5.2 billion Danish kroner during 3Q16.
Yes, There Will Be Margin Erosion for Valeant in 2017
Of its three businesses, Bausch & Lomb’s share in Valeant Pharmaceuticals’ (VRX) overall EBITA (earnings before interest, tax, and amortization) was 32%.
How Could a Salix Sale Impact Valeant’s Financials?
With the sale of Salix, Valeant’s adjusted revenues will fall 14.0%. Since Salix is a high-margin business, the sale will adversely impact Valeant’s margins.
Ibrance Is the Only Registered CDK 4/6 Inhibitor for Breast Cancer
Since its launch in February 2015, Pfizer’s Ibrance has quickly captured the advanced breast cancer market and has reached more than 40,000 patients.
How Did Valeant Fare in 2Q16?
Valeant Pharmaceuticals (VRX) announced earnings for 2Q16 on August 9, 2016.
Why Is Lung Cancer so Attractive to Bristol, Merck, and Roche?
Bristol-Myers Squibb’s (BMY) Opdivo’s will now share the second-line lung cancer therapy market with Roche’s Tecentriq, along with Merck’s Keytruda.
Projected Revenue for Valeant in 2017
Valeant Pharmaceuticals (VRX) has been keeping an eye on the progress of its dermatology and gastrointestinal portfolio.
How Regeneron Is Working to Maintain Eylea’s Dominance
Regeneron’s (REGN) flagship product, Eylea (Aflibercept), was launched in the US in November 2011.
How Can Celator’s Portfolio Complement Jazz Pharmaceuticals?
Vyxeos would offer commercial synergies to the Jazz Pharmaceuticals portfolio in the form of a complementary targeted prescriber base of AML patients who undergo HSCT.
How Did Novo’s 2 Segments Perform in 1Q16?
Novo Nordisk’s two business segments are diabetes and obesity care and biopharmaceuticals. In 1Q16, they saw annual sales growth of 6% and 15%, respectively.
Introducing Krystexxa, the Latest Addition to Horizon’s Orphan Portfolio
In January 2016, Horizon acquired Krystexxa from Crealta Holdings. The drug has been approved by the FDA for the treatment of chronic refractory gout.
Revenue Drivers for Krystexxa, Horizon’s Orphan Biologic Drug
Horizon plans to drive Krystexxa through increased awareness and outreach, investing in its marketing and medical education as well as commercial infrastructure.
How Is Valeant Trading at a Discount on PE Basis?
On March 16, Valeant Pharmaceuticals was trading at a forward PE multiple of 2.94x. This appears to be a significant discount compared to peers.
Great Disappointment in Valeant Pharmaceuticals’s 3Q16 Earnings
Valeant Pharmaceuticals (VRX) announced its 3Q16 earnings on November 8. On a GAAP basis, Valeant reported a loss of ~$1.2 billion, which reflects a loss of $3.49 per diluted share during the period.
What Were Pfizer’s Major Achievements in 2016?
During 2016, Pfizer (PFE) succeeded in expanding its label for Ibrance, its breast cancer treatment.
Strensiq and Kanuma: Potential Revenue Drivers for Alexion
Once Alexion taps the numbers of Strensiq and Kanuma, its share price will most likely rise.
Buy Allows Horizon to Further Expand into Orphan Drug Space
Through the acquisition of Raptor Pharmaceuticals, Horizon Pharma (HZNP) will gain access to Procysbi and Quinsair and expand in the orphan drug space.
How Could TAF-Based Regimen Drive Gilead Sciences’s Growth?
Gilead Sciences’s (GILD) TAF-based (tenofovir alafenamide) regimen comprises three products: Genvoya, Descovy, and Odefsey.
Sales Performance Analysis of Roche’s Pharmaceuticals Division
Roche Holding (RHHBY) generated ~78% of its group sales from the pharmaceuticals division.
Overview of BioMarin: History and Product Portfolio
Here we present an overview of BioMarin. It’s based in California and was founded in 1997. It focuses on therapies for life-threatening rare genetic diseases.
Understanding Regeneron’s Share Price Movement after Its 4Q15 Results
Regeneron Pharmaceuticals (REGN) earned $1.1 billion in 4Q15, which translates to a 37% YoY (year-over-year) sales growth.
What Is the Reason for LifePoint’s High Salary and Wage Expenses?
During 4Q15, salaries and benefits for LifePoint Health (LPNT) amounted to $652.7 million, up 6.6% in comparison with the same quarter of the previous year.
Why Are Novo Nordisk’s Two Segments Growing?
Novo Nordisk (NVO) operates in two major segments: diabetes and obesity care and biopharmaceuticals. Diabetes care has been Novo’s major business area.
Pfizer Has Strong Track Record since 2010
As of November 1, Pfizer had ~94 projects in various development stages. More than 40% of these projects are in phase three or the registration phase.
What Are the Prospects for Horizon’s Primary Care Segment?
Horizon Pharma’s Primary Care division is the company’s largest revenue contributor and grew by 33% on a yearly basis in 2Q16.
BioMarin’s Disappointing 3Q16 Earnings
BioMarin Pharmaceutical (BMRN) reported its 3Q16 earnings on October 27, 2016. Revenues were $279.9 million, which was lower than Wall Street analysts’ projections.
Could Xtandi’s Use for Breast Cancer Be a Valuation Driver?
If Xtandi is successful in achieving a longer treatment duration of about ten months, it could earn up to $1 billion in the breast cancer space.
Could Baxalta Maintain Its Leadership in the Hemophilia Space?
Baxalta’s (BXLT) hemophilia portfolio comprises of Advate, Adynovate, Rixubis, Recombinate, Hemofil M, Immunate, Immunine, and Prothromplex Total.
Multinational and Japanese Pharmaceuticals Should Build Alliances
The Japanese pharmaceuticals market is not very welcoming to foreign companies. Similarly, the Japanese population is quite loyal to domestic manufacturers.
Exploring Avelumab’s Opportunities in the PD-1/PD-L1 Space
Pfizer plans to use avelumab, a PD-L1 (programmed death-ligand 1) class immuno-oncology product, as a backbone therapy in its immuno-oncology programs.
How Kanuma’s Addition to Alexion’s Portfolio Impacts Its Earnings
Alexion added Kanuma to its portfolio in 2015 after its Synageva acquisition. But ALXN didn’t have much time to build diagnostics as it did with Strensiq.
What Drove Regeneron’s 3Q16 Performance?
In fiscal 3Q16, Regeneron Pharmaceuticals (REGN) recorded revenue amounting to $1.2 billion and net product sales amounting to $857 million.
What Are the Current Treatment Options for Hemophilia?
Hemophilia treatment primarily includes factor replacement therapy and prolonged half-life therapy such as factor VIII or factor IX infusion.
What Do Analysts Recommend for Valeant after Recent Happenings
The consensus 12-month target price for Valeant Pharmaceuticals is $36, which translates to a ~77.3% return potential compared to Valeant’s closing price of $20.3 on November 2, 2016.
BioMarin Leads in the Market for Mucopolysaccharidoses Disorders
BioMarin holds three drugs in its portfolio indicated for different types of mucopolysaccharidoses disorders. They are Vimizim, Naglazyme, and Aldurazyme.
Understanding Mallinckrodt’s Impressive Revenue and Earnings in 2Q16
Wall Street analysts expected Mallinckrodt’s revenues for fiscal 2Q16 to be ~$871.5 million, but Mallinckrodt surprised them with sales of $918 million.
BMN 270: A Big Valuation Catalyst for BioMarin
On March 1, 2016, BioMarin received orphan drug designation for BMN 270 from the FDA. BioMarin’s stock jumped by about 6.96% the same day.
Could There Be a Steep Fall for Gilead Sciences’s HCV Franchise?
With three products—Sovaldi, Harvoni, and Epclusa—in its arsenal, Gilead Sciences (GILD) dominates the HCV (hepatitis C virus) market.
Four Key Deals: Analyzing Pfizer’s Impending Growth
Over the past year, Pfizer completed multiple acquisitions to restore its top line growth. They will offset the revenue decline and fuel Pfizer’s top line.
Why Is Enbrel So Important for Amgen?
YTD, Amgen’s (AMGN) stock has already fallen 9%. Perhaps the pressure that Enbrel (etanercept) is seeing is to blame for the negative investor sentiment.
Inside the Double-Digit Fall for Mallinckrodt’s Specialty Generics Business in 2016
Specialty Generics’ contribution to Mallinckrodt’s net sales fell by 18% to $1 billion in 2016. The business had a 31% share in total net sales in 2016.
What Valeant’s EV-to-EBITDA Multiple Means
Valeant Pharmaceuticals was trading at a forward EV-to-EBITDA multiple of 5.64x on March 16. This looks to be a huge discount when compared peers.
What Might Have Fueled Valeant’s Interest in Salix?
The gastrointestinal (or GI) drug market in the United States is expected to grow at a CAGR of 5.0% over a five-year period from 2014 to 2019.
What to Expect from Shire’s Genetic Disease Franchise
Wall Street analysts expect Elaprase to earn $145.6 million in 2Q16 and $140.5 million in 3Q16.
A Look at Mallinckrodt’s Operating Segments
Mallinckrodt (MNK) is a specialty pharmaceuticals company that relies on volume-driven growth. Let’s discuss the performances of its three segments.
Brodalumab, Oral Relistor among Valeant’s Recent Wins
Valeant’s (VRX) recent wins include the FDA’s advisory committee vote in favor of approving brodalumab for the indication of mild to moderate psoriasis.
How Much Potential Does Promacta Hold?
On April 2016, Promacta received approval in the EU for treating ITP patients who are one year of age and older.
How Alexion Plans to Fuel Strensiq Sales
With the Enobia acquisition in February 2012, Alexion benefited in long-term disease awareness, diagnostic planning, and initiatives in the HPP space.
BioMarin: How Much Revenue Growth in 2Q16?
According to analyst estimates, BioMarin should earn $278.4 million and $273.5 million in 2Q16 and 3Q16, respectively. That’s a yearly sales growth of 11.1% and 30.9%, respectively.
Does Pfizer Deserve a Better Valuation?
Like other big pharmaceutical companies, Pfizer witnessed negative top line growth. With multiple acquisitions recently, it’s poised to grow its top line.
How Much Could Gilead Sciences’s Revenues Fall beyond 2016?
Gilead Sciences (GILD) is expected to garner $28.3 billion in 2017 and $26.7 billion in 2018.
Lyrica to Lose Patent Protection in the US in 2018
After Pfizer lost patent protection for Lipitor, Lyrica became increasingly important to it. During its peak in 2014, Lyrica added $5.2 billion to Pfizer’s top line.
Gilead Sciences Holds a Broader HIV Portfolio
Gilead Sciences (GILD) holds a share of nearly 80% in the antiretroviral therapy market, which covers ~840,000 patients.
Inside Roche’s Strategy to Offset Revenue Declines
Roche’s big three contributors include MabThera/Rituxan, Herceptin, and Avastin, which accounted for 14.7%, 13.9% and 13.7% of revenues in fiscal 1Q16.
Ligand Pharmaceuticals’s Portfolio Pyramid as Its Valuation Catalyst
Ligand Pharmaceuticals’s (LGND) product portfolio has expanded from nine programs in 2008 to 140+ programs in 2016.
Will Valeant be Able to Manage Its Huge Debt?
With its acquisitions, Valeant’s long-term debt kept on swelling until it reached $30.2 billion at the end of 4Q15. It plans to repay $1.7 billion in 2016.
Why Roche Might Be Interested in BioMarin
With increased M&A activity in the pharmaceuticals and biotechnology space, it wouldn’t be surprising if Roche Holding (RHHBY) acquired BioMarin (BMRN).
What Are the Prospects for Novo’s Biopharmaceuticals Segment?
Novo’s (NVO) biopharmaceuticals segment sales grew by 6% on a reported basis to amount to 11.8 billion Danish kroner during 1H16.
Why Are Most Analysts Recommending a ‘Buy’ for Vertex?
On February 16, 2016, after Vertex’s (VRTX) 4Q15 and fiscal 2015 earnings release, revised ratings showed that 76% of analysts now recommend a “buy” for Vertex stock.
How Did the Bausch & Lomb Division Perform in 3Q16?
Over the past five quarters, the Bausch & Lomb business had shown a variation in the margins, where its gross margin fell to 61% in 3Q16 from 67% in 3Q15.
How Valeant Plans to Its Fix Dermatology Portfolio
Actions to fix dermatology portfolio After the Philidor separation, Valeant Pharmaceuticals’ (VRX) dermatology business has suffered a lot. If you want to learn more about this controversy, please read What Happened in the Valeant-Philidor Controversy? Valeant’s actions to stop the declining dermatology business include a 20-year fulfillment program with Walgreens, a newly launched prior authorization approval […]
Gauging Growth Expectations for Roche in 2Q16 and 2016
Analysts project that Roche will earn revenues of 12.5 billion in swiss francs during the second quarter of 2016—a YoY growth of 6.3% during the period.
Why Is Vertex Pharmaceuticals’ Valuation at a Discount?
On February 17, 2016, Vertex Pharmaceuticals (VRTX) was trading at a forward PE multiple of 15.20x. It’s trading at a discount when compared to peers Alexion (ALXN) and Regeneron (REGN).
How Mallinckrodt’s Specialty Brands Performed in 2Q16
Mallinckrodt’s Specialty Brands segment earned $535 million during fiscal 2Q16 and includes Acthar, the lead drug, as well as other drugs.
Brace Yourself: AstraZeneca Could Be a Fourth Entrant into the PD-1/PD-L1 Drug Class
The PD-1 (programmed death-1)/PD-L1 (programmed death-ligand 1) class consists of Bristol-Myers Squibb’s Opdivo, Merck’s Keytruda, and Roche’s Tecentriq.