Jul. 30, 2015, 1:37 PM
- Unsurprisingly, Express Scripts (ESRX -0.6%) takes a dim view of the proposed price of the cholesterol-lowering PCSK9 inhibitor Praluent (alirocumab). Last Friday, co-developers Sanofi (SNY +1.6%) and Regeneron Pharmaceuticals (REGN +0.4%) announced that the wholesale acquisition cost (WAC) of the once-every-two-week injection will be $40 per day or $14,600 per year. This is several orders of magnitude above the cost of statins, which average $2 - 3 per day.
- WAC is the average price that wholesalers and distributors pay for the drug. Patients will, of course, pay quite a bit more.
- Pharmacy benefit managers, still feeling the pinch from Gilead's (GILD +1.8%) HCV meds Sovaldi and Harvoni, will likely ratchet up their opposition as Praluent's U.S. launch commences.
- Related tickers: (AET +0.9%)(CTRX)(CNC +0.9%)(CI -0.7%)(HUM)(MRK +0.3%)(OCR +0.4%)(UNH -0.7%)(CVS -0.5%)
Apr. 30, 2015, 6:10 AM
- Catamaran (NASDAQ:CTRX): Q1 EPS of $0.59 beats by $0.02.
- Revenue of $5.98B (+21.8% Y/Y) beats by $270M.
Apr. 8, 2015, 1:38 PM
- Cytori Therapeutics (CYTX -1.5%) rated Buy with a $7 (425% upside) price target by Maxim Group.
- Sagent Pharmaceuticals (SGNT +9.2%) rated Buy with a $29 (13% upside) price target by Deutsche Bank.
- Mylan (MYL +15.6%) rated Overweight with a $70 (2% upside) price target by JP Morgan.
- Akorn (AKRX +3.7%) rated Buy with a $55 (11% upside) price target by Deutsche Bank.
- OvaScience (OVAS +1.4%) rated Outperform with a $60 (102% upside) price target by Oppenheimer.
- Impax Laboratories (IPXL +3.2%) rated Hold with a $50 (flat) price target by Deutsche Bank.
- Catamaran (CTRX) downgraded to Hold with a $61.50 (4% upside) price target by Jefferies.
- NewLink Genetics (NLNK +4.4%) downgraded to Hold with a $50 (11% downside risk) price target by Jefferies.
- Stryker (SYK +0.4%) downgraded to Underweight with a $92 (flat) price target by Barclays.
Mar. 30, 2015, 12:45 PM
Mar. 30, 2015, 9:11 AM
Mar. 30, 2015, 6:45 AM
- UnitedHealth (NYSE:UNH) has agreed to acquire Catamaran (NASDAQ:CTRX) for about $12.8B in cash, planning to merge the pharmacy-benefit manager into its OptumRx unit.
- UnitedHealth will pay $61.50 per share of Catamaran, a 27% premium over Friday’s closing price of $48.32.
- The deal is expected to close in the fourth quarter and will be accretive to UnitedHealth's 2016 net earnings by about $0.30 a share.
- UNH +2.7%; CTRX +26.2% premarket
Feb. 26, 2015, 12:54 PM
- PBM manager Catamaran (CTRX -3.7%) slumps on double normal volume after its 2015 guidance apparently underwhelmed investors.
- Q4 results ($M): Revenues: 5,739.9 (+26.7%); EBITDA: 221.8 (+21.9%); Operating Income: 169.1 (+34.1%); Net Income: 100.4 (+34.9%); EPS: 0.48 (+33.3%); CF Ops: 163.0 (+16.8%).
- 2015 Guidance: Revenues: $23.5B - 24.5B (8.9 - 13.4% growth); EBITDA: $905M - 930M (15.0 - 18.2% growth); EPS: $1.77 - 1.92 (15.7 - +25.5% growth); Non-GAAP EPS: $2.45 - 2.60 (7.5 - 14.0% growth).
Feb. 26, 2015, 6:26 AM
- Catamaran (NASDAQ:CTRX): Q4 EPS of $0.67 beats by $0.06.
- Revenue of $5.74B (+26.7% Y/Y) beats by $170M.
Oct. 30, 2014, 6:13 AM
- Catamaran (NASDAQ:CTRX): Q3 EPS of $0.58 beats by $0.02.
- Revenue of $5.5B (+52.4% Y/Y) beats by $140M.
Oct. 8, 2014, 6:47 PM
- Salveo is based out of Florida, and has operations in New York and California. The company manages $400M/year in drug spend for clients. (PR)
- Catamaran's (NASDAQ:CTRX) acquisition price is equal to 13x Salveo's trailing EBITDA. The purchase will be financed using cash on hand, and is expected to close in Q4.
- CEO Mark Thierer: "This transaction affirms our commitment to investing in our specialty capabilities and the combination of BriovaRx and Salveo strongly positions Catamaran as one of the largest specialty pharmacies with a truly unique service offering."
Aug. 1, 2014, 5:40 PM
Aug. 1, 2014, 7:41 AM
- Catamaran Corp. (NASDAQ:CTRX) Q2 results: Revenue: $5,285.8M (+57.6%); Gross Profit: $329.8M (+24.6%); Operating Expenses: $194.7M (+23.3%); Operating Income: $135.1M (+26.6%); Net Income: $86.2M (+21.1%); EPS: $.34 (+9.7%); Quick Assets: $709.5M (+83.2%); CF Ops: $57.2M (-66.9%).
- 2014 Guidance: Revenue: $20.5B - 21.0B; EBITDA: $770 - 800M; GAAP EPS: $1.40 - 1.50; non-GAAP EPS: $2.12 - 2.22.
Aug. 1, 2014, 6:26 AM
- Catamaran Corp. (NASDAQ:CTRX): Q2 EPS of $0.54 beats by $0.03.
- Revenue of $5.4B (+57.9% Y/Y) beats by $390M.
Jul. 3, 2014, 11:07 AM
- Saying that most custom-mixed medicines are either ineffective or overpriced, pharmacy benefit manager Express Scripts (ESRX +0.6%) plans to drop coverage for 1,000 drug ingredients found in compounded meds. The company states that the move will reduce employers' spending on compounded prescriptions by 95%. Express Scripts SVP Glen Stettin says, "What we are eliminating is, pure and simple, wasteful spending. These drugs are being used when there are other things available that are already approved by the FDA and are less expensive." The cuts will take effect on September 15, 2014 unless customers specifically ask to continue paying for them. Firms who want to opt out of the cuts must notify ESRX by Thursday (not sure if this means today).
- Predictably, compounding pharmacists lack enthusiasm for the move saying that it will deprive patients of much-needed medications.
- Related tickers: (UNH +0.7%) (CTRX +0.4%) (BIOS -0.2%) (WLP -0.7%) (AET +0.3%) (CI +0.6%) (HUM +0.2%) (CNC) (WCG +0.3%) (MOH +1.4%) (MGLN +0.5%)
Jun. 6, 2014, 11:37 AM
- Analysts say Humana (HUM +1.7%) is exploring strategic alternatives for its pharmacy benefit management business including an outright sale which could fetch as much as $7B. The unit is projected to generate ~$15.5B in revenues this year. Options other than a sale include renegotiating the pricing of generic drugs and outsourcing certain operations. Potential buyers may include CVS Caremark (CVS +0.6%), Express Scripts (ESRX +0.4%) and Catamaran (CTRX +1.1%).
May 1, 2014, 9:13 AM