Thu, Oct. 13, 1:46 PM
- The company will pay 9% annually for $350M of 5.5-year paper which sold at par. The closing of the sale marks the "formal conclusion" of Concordia's (CXRX -4.2%) strategic review.
- Added to the board is Allan Oberman, who was CEO of Sagent Pharmaceuticals (NASDAQ:SGNT) until its sale at the end of August.
Mon, Jul. 11, 12:48 PM
Mon, Jul. 11, 11:00 AM
Mon, Jul. 11, 9:15 AM
Mon, Jul. 11, 8:25 AM
- Tokyo-based Nichi-Iko Pharmaceutical has inked an agreement to acquire Sagent Pharmaceuticals (NASDAQ:SGNT) for ~$736M or $21.75 per share. The all-cash tender offer will commence within 15 business days.
- The deal will enhance Nichi-Iko's presence in the U.S. market, specifically in injectables and, eventually, biosimilars.
- Sagent is up 39% premarket on robust volume.
Thu, Jun. 16, 9:48 AM
- Sagent Pharmaceuticals (NASDAQ:SGNT) announces that it has entered into a definitive agreement with Teva Pharmaceuticals and Actavis LLC to acquire a portfolio of five Abbreviated New Drug Applications (ANDAs) in the U.S. for $40M including Propofol Injectable Emulsion, 1%.
- The acquired portfolio includes products that are being divested by Teva as a precondition to its closing of the acquisition of Allergan’s generics business.
- Total market sales for the five ANDAs are $340M on a trailing twelve month basis per IMS Health, but are expected to generate only $40M to $50M revenue on an annualized basis.
- Sagent's Propofol agreement with Teva is set to expire in Q2, 2018. Sagent currently accounts for ~12% of the product's U.S. sales.
- The transaction will be financed through Sagent's existing $80M revolving credit facility, which currently has no borrowings outstanding.
Tue, May 3, 7:33 AM
- Sagent Pharmaceuticals (NASDAQ:SGNT): Q1 EPS of $0.02 beats by $0.01.
- Revenue of $67.8M (-18.0% Y/Y) misses by $6.5M.
Mon, May 2, 5:30 PM
- ABMD, ACW, ADM, AFSI, ALE, ALLT, AMAG, AMG, APLP, AROC, ARRY, ARW, AUDC, BBW, BCC, BCO, CARB, CEQP, CFX, CIE, CLX, CMI, COTY, CVLT, CVS, DUK, ECA, ECL, EIGI, EL, EMR, EXAS, FDP, FIS, FMS, FSS, FTR, GLDD, GLT, GRUB, H, HAL, HCA, HCN, HEP, HOT, HRS, HSIC, HW, KEM, KMT, LXRX, MNK, MNTA, MYL, NI, NTI, NWN, NXST, NYT, OZM, PBI, PFE, Q, RDWR, RHP, RRD, S, SALE, SALT, SGNT, SMG, SSH, TAP, TECH, TICC, VLO, VMC, VSH, WAC, WCG, WEC, WLK, WNR, WNRL, WWW, XYL
Tue, Feb. 16, 9:37 AM
- Sagent Pharmaceuticals (SGNT +1.5%) Q4 results: Revenues: $83.1M (-0.6%); SG&A: $14M (+20.7%); Operating Loss: ($47.3M) (-999%); Net Loss: ($17.9M) (-166.8%); Loss Per Share: ($0.55) (-167.1%).
- FY2015 results: Revenues: $318.3M (+10.1%); SG&A: $49.9M (+15.5%); Operating Loss: ($44.5M) (-334.2%); Net Loss: ($21.9M) (-154.8%); Loss Per Share: ($0.67) (-159.3%); Quick Assets: $46.2M (-37.7%).
- 2016 Guidance: Net Revenue: $325M - 365M; Operating Expenses: $70M - 80M; Adjusted EBITDA: $35M - 50M.
Tue, Feb. 16, 7:33 AM
- Sagent Pharmaceuticals (NASDAQ:SGNT): Q4 EPS of -$0.55 may not be comparable to consensus of -$0.02.
- Revenue of $83.11M (-0.5% Y/Y) beats by $4.98M.
Mon, Feb. 15, 5:30 PM
Wed, Jan. 13, 12:43 PM
Dec. 31, 2015, 6:03 PM
- Sagent Pharma's (NASDAQ:SGNT) board has authorized the company to sell its Sagent (China) Pharmaceuticals unit, also known as SCP. (8-K filing)
- Back in 2013, Sagent bought the 50% of SCP (then known as KSCP) it didn't own from JV partner Chegdu Kanghong Pharma for $25M. At the time, the company argued fully owning the business and its Chengdu, China manufacturing plant "better serves Sagent's long-term strategic goals, including a strategy of additional investment in product development and capacity expansion." Later that year, SCP began manufacturing an antineoplastic agent called Carboplatin.
Dec. 22, 2015, 7:54 AM
- Noting significant short interest and recent selloffs, analyst Randall Stanicky makes INSY and SGNT his top "out of consensus" picks for 2016. INSY's short interest is 46% of the float and SGNT's is 4.4%.
- Though M&A will continue next year, there will be greater deal scrutiny and fewer targets, and Stanicky favors the targets vs. the accretive acquirers.
- Mylan (NASDAQ:MYL) and Impax Labs (NASDAQ:IPXL) are seen as most likely to pursue "transformative" deals, while Teva (NYSE:TEVA), Perrigo (NYSE:PRGO), Sagent, Eagle (NASDAQ:EGRX), Depomed (NASDAQ:DEPO), and Endo (NASDAQ:ENDP) are likely to pursue bolt-on purchases.
- Most likely targets: Akorn (NASDAQ:AKRX) and Flexion (NASDAQ:FLXN).
- Top large-cap picks: Endo and Teva.
- Related: 45% Upside For 2016's Top Takeover Target (Dec. 1)
Nov. 3, 2015, 7:15 AM
- Sagent Pharmaceuticals (NASDAQ:SGNT): Q3 EPS of $0.01 beats by $0.07.
- Revenue of $75.2M (+15.1% Y/Y) beats by $1.36M.
Nov. 2, 2015, 5:30 PM
- ADM, AFSI, ALE, AMAG, AMSC, ANAC, ANIP, ARIA, AUDC, AXLL, AYR, BLMN, CBM, CDK, CEQP, CIE, CIT, DISCA, DNOW, EMR, EXPD, FI, FIS, FLWS, FSS, FTR, GCAP, GEL, GLDD, GLT, GTN, H, HCP, HRS, HTH, HW, HYH, IART, INCY, K, KMT, LPX, MBLY, MDCO, MHFI, MLM, MMP, MOS, NCLH, NGLS, NI, NMM, NNN, NRZ, NS, [[NTi]], NWN, NXST, NXTM, ODP, OZM, PERI, RDC, RHP, RRGB, SALE, SGNT, SMG, SRE, SSH, SUP, TASR, TGH, TRP, TWI, TZOO, UAM, UNT, VMC, VSH, WLK, WNR, WPC, WPG, ZTS