SciClone Pharmaceuticals rises, Zadaxin sales in focus

SciClone Pharmaceuticals (SCLN +6.4%) enjoys a decent session after reporting Q3 results.

Q3 Zadaxin sales: $25M. That's +15% sequentially, but -20% Y/Y. CEO Friedhelm Blobel notes that while SCLN "expects to see continued growth through the remainder of the year, [the company] expects the rate of growth to continue to be affected by external economic and industry factors."

SCLN says it is pleased with "negotiations to restructure promotion partnerships with Baxter and Pfizer" and notes that the agreement with Sanofi will expire at year end (this may affect Q4 revenue and EPS depending on how "transition discussions" turn out).

FY13 revenue and EPS guidance confirmed (although at the low-end of the range): $0.55-0.61/share on sales of $135-145M. (PR)

Aegis cuts its price target to $8 from $9 citing uncertainty regarding the operating environment in China. Analyst Raghuram Selvaraju sees the expiration of the Sanofi deal shaving $25M off annual revenue.

Comments (0)
Be the first to comment
DJIA (DIA) S&P 500 (SPY)
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs