SciClone Pharmaceuticals rises, Zadaxin sales in focus

|About: SciClone Pharmaceuticals, Inc. (SCLN)|By:, SA News Editor

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.