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Mon, Feb. 1, 8:07 AM
- Abbott Laboratories (NYSE:ABT) acquires point-of-care diagnostics firm Alere (NYSE:ALR) for $56 per share ($5.8B). The deal will be immediately accretive to earnings and is expected to add $0.12 - 0.13 to EPS in 2017 and more than $.20 in 2018. Annual pre-tax synergies should be ~$500M by 2019.
- Under the terms of the deal, Alere shareholders will receive $56 per share in cash. Abbott will also assume $2.6B in Alere outstanding debt.
- Waltham-MA-based Alere generates ~$2.5B in sales per year. Shares are up 46% premarket on light volume.
Thu, Jan. 28, 8:17 AM
- Abbott Laboratories (NYSE:ABT) Q4 results ($M): Total Revenues: 5,188 (-3.1%); Nutrition: 1,800 (-0.2%); Diagnostics: 1,220 (-1.1%); Est. Pharmaceuticals: 885 (-4.0%); Medical Devices: 1,297 (-5.9%).
- Net Income: 767 (-15.2%); EPS: 0.51 (-13.6%); Non-GAAP EPS (continuing ops): 0.62 (0.0%).
- 2016 Guidance: EPS: $1.55 - 1.65; Non-GAAP EPS: $2.10 - 2.20.
- Q1 Guidance: EPS: $0.23 - 0.25; EPS ex-items: $0.38 - 0.40.
- Shares are down 4% premarket on light volume.
Thu, Jan. 28, 7:41 AM
Wed, Jan. 27, 5:30 PM
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Wed, Jan. 27, 3:30 PM
- As if biotech investors need reminding, biotechs (and healthcare stocks) are getting some rude treatment today, the market's foul mood notwithstanding. The Nasdaq Composite Index is down 2.5%,but the SPDR S&P Biotech ETF (XBI -4.7%) almost twice as much. The iShares Nasdaq Biotechnology ETF (IBB -3.5%) is faring a bit better, but still down more than the broad market.
- Only Biogen and Abbott have bucked the trend.
- Sample of tickers: (AMGN -2.5%)(BIIB +5.7%)(CELG -3.9%)(GILD -3.3%)(ALXN -1.2%)(ABT +0.3%)(BMY -1.8%)(MRK -3%)(VRX -4%)(PFE -0.9%)
- ETFs: BIB, BIS, CNCR
Wed, Jan. 27, 1:13 PM
- Tomorrow is a busy day for healthcare large caps with six firms reporting Q4 results. Companies and consensus views are:
- Premarket: Eli Lilly (LLY +1.1%): EPS of $0.78 on revenues of $5.3B; Zimmer Biomet Holdings (ZBH +1.1%): EPS of $2.04 on revenues of $2.0B; Abbott Laboratories (ABT +2.3%): EPS of $0.61 on revenues of $5.3B; Celgene (CELG -1%): EPS of $1.22 on revenues of $2.5B and Bristol-Myers Squibb (BMY -0.5%): EPS of $0.28 on revenues of $4.1B.
- After the close: Amgen (AMGN): EPS of $2.29 on revenues of $5.5B.
Dec. 29, 2015, 7:34 AM
- HCV-positive Indians are benefiting from the intense competition between the 11 firms authorized to manufacture and distribute generic versions of Gilead Sciences' (NASDAQ:GILD) Sovaldi (sofosbuvir) in India. Market share-grabbing tactics include screening drives, free diagnostic test kits and bulk discounts to entire villages.
- Dr. Reddy's has established a venture with Arogya Finance to offer no-interest loans to patients while Abbott Labs (NYSE:ABT) has teamed up with French medical equipment firm Echosens SAS to supply Indian hospitals with 13 ultrasound machines for performing liver scans to determine the level of fibrosis without a liver biopsy. Scans can be performed for ~3,500 rupees (~US$53).
- The price per pill, initially $10 back in March, is now as low as $4.29, over 99% lower than the $1,000 per pill list price in the U.S.
- An estimated 12M Indians are HCV-positive. The incidence is greatest in the Punjab state where certain areas have as high as a 50% infection rate.
Dec. 11, 2015, 4:25 PM
- Voyager Therapeutics (NASDAQ:VYGR) initiated with Outperform rating and $36 (52% upside) price target by Wedbush.
- Perrigo (NYSE:PRGO) upgraded to Buy from Hold with $170 (15% upside) price target by Argus.
- Myriad Genetics (NASDAQ:MYGN) upgraded to Neutral from Sell by Goldman Sachs. Price target raised to $94 (123% upside) from $72.
- Abbott Laboratories (NYSE:ABT) upgraded to Buy from Hold by Jefferies. Price target raised to $55 (24% upside) from $49.
- Eli Lilly (NYSE:LLY) upgraded to Buy from Hold by Deutsche Bank. Price target raised to $99 (19% upside) from $85.
- PerkinElmer (NYSE:PKI) downgraded to Sell from Neutral. Price target lowered to $44 (12% downside risk) from $55. LabCorp (NYSE:LH) downgraded to Neutral from Buy. Price target lowered to $126 (4% upside) from $142. Danaher (NYSE:DHR) downgraded to Neutral from Buy. Price target lowered to $103 (11% upside) from $104. All by Goldman Sachs.
- Bluebird bio (NASDAQ:BLUE) downgraded to Equal Weight from Overweight by Morgan Stanley. Price target lowered to $69 (16% upside) from $143. Maintained at Outperform by Wedbush. Price target lowered to $117 (96% upside) from $165. Downgraded to Neutral from Buy by Roth Capital. Price target lowered to $62 (4% upside) from $121. Maintained at Overweight at Piper Jaffray. Price target unchanged at $204 (242% upside).
Nov. 30, 2015, 8:43 AM
- BG Medicine (NASDAQ:BGMD) amends its License and Distribution Agreement with Abbott Diagnostics (NYSE:ABT) lowering the fees paid to BG for galectin-3 tests sold by Abbott to reference laboratories. The specific amount of the reduction is undisclosed. The original fees will remain unchanged for all other customer segments.
- BG chief Paul Sohmer, M.D., says, "We believe this modification to our agreement will open up a new customer segment for automated testing as well as expedite the transition for existing customers from manual to automated testing for galectin-3. We expect that, as a result, the majority of revenues currently generated from sales of manual test kits will, over time, likely be replaced by product fees generated from the sale of automated tests by our automated partners when their automated tests become available. This modification to our agreement further bolsters our efforts to accelerate adoption of galectin-3 testing.
- Abbott's Diagnostics Division is marketing the automated galectin-3 test as part of the test menu of its Architect immunoassay analyzer. The test is used to help identify chronic heart failure patients who are clinically stable but have a higher risk of adverse events such as hospitalization and mortality.
Nov. 13, 2015, 11:57 AM
- OvaScience (NASDAQ:OVAS) downgraded to Market Perform from Outperform by Leerink. Price target lowered to $14 (40% upside) from $16.
- ZS Pharma (NASDAQ:ZSPH) downgraded to Neutral from Outperform by Credit Suisse. Price target raised to $90 (1% upside) from 67. Downgraded from Overweight to Equal Weight by Morgan Stanley. Price target maintained at $90.
- Abbott Laboratories (ABT -0.2%) downgraded to Neutral from Buy by Goldman Sachs. Price target maintained at $48 (9% upside).
Oct. 24, 2015, 7:50 AM
- “We’re trying to figure out where we are and what we do going forward," a Walgreens Boots Alliance (NASDAQ:WBA) source tells the WSJ. "We need to understand the truth."
- The drugstore chain has "no concrete plans at this stage" to expand its partnership with Theranos beyond the 41 stores in Arizona and California which already include Theranos "wellness centers," reports the Journal. That partnership also includes an equity stake in the startup.
- Walgreens made the move after meeting late this week with top brass at Theranos, including CEO Elizabeth Holmes. Said meeting came about after stories questioning the viability of the startup's technology. Walgreens was also unaware of the FDA's surprise inspection of Theranos facilities in August and September, according to sources.
- Previously: Theranos chief Holmes says technology sound (Oct. 21)
- Related tickers: Abbot Labs (NYSE:ABT), Quest Diagnostics (NYSE:DGX), Lab Corp. (NYSE:LH), Roche Holding (OTCQX:RHHBY)
Oct. 21, 2015, 12:44 PM
- During a technology conference in California hosted by the Wall Street Journal, Theranos CEO Elizabeth Holmes defended her company and its technology against critics who claim things are not what they seem at the high-flying early-stage firm.
- She said the company has moved away from one of its devices only briefly as it proceeds to getting FDA clearance for all of its tests. She also cites her personal involvement in enacting a law in Arizona that allows patients to get blood tests without a doctor's order, saying, "I personally in Arizona worked very hard to change the law. I can't do that without knowing that the tests that are offered are of the highest quality."
- Related tickers: (ABT +1.2%)(OTCQX:RHHBY -1%)(LH -1.2%)(DGX -0.7%)
- Previously: Upstart Theranos has arrived, the ax grinding has begun (Oct. 16)
- Previously: FDA clears upstart Theranos' test system (July 2)
Oct. 21, 2015, 8:27 AM
- Abbott Laboratories (NYSE:ABT) Q3 results ($M): Total Revenues: 5,150 (+0.9%); Nutrition: 1,789 (+0.1%); Diagnostics: 1,156 (-2.0%); Est. Pharmaceuticals: 961 (+24.6%); Medical Devices: 1,230 (-7.4%).
- Net Income: 580 (+7.8%); EPS: 0.38 (+5.6%).
- 2015 Guidance: EPS: $1.59 - 1.61 from $1.50 - 1.60; Non-GAAP EPS: $2.14 - 2.16 from $2.10 - 2.20.
Oct. 21, 2015, 7:47 AM
- Abbott Laboratories (NYSE:ABT): Q3 EPS of $0.54 beats by $0.01.
- Revenue of $5.15B (+1.0% Y/Y) beats by $10M.
Oct. 20, 2015, 5:30 PM
Oct. 20, 2015, 10:00 AM
- Abbott Laboratories (ABT -0.1%) reports Q3 results tomorrow before the open. Consensus view is EPS of $0.53 (-14.5%) on revenues of $5.15B (+1%).
Abbott Laboratories discovers, develops, manufactures and sells health care products. Its products include branded generic pharmaceuticals manufactured internationally, marketed and sold outside the United States.
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